Press Releases

Financial Adviser
23 January 2003
"Inter-Alliance links with network OFS WorldNet"

Inter-Alliance, a national IFA, has agreed a joint venture with Cyprus-based IFA network OFS WorldNet.

Inter-Alliance, through its wholly-owned subsidiary Inter-Alliance International, based in Cyprus, has acquired a 50 per cent stake in OFS for nominal sum.

The venture will be re-branded and re-launched as Inter-Alliance WorldNet.

Kevin Mudd, managing director of OFS, will continue in this role with Brian Cosgrave, chef executive of Inter-Alliance International, who is joining the board as a non-executive director.

Inter-Alliance WorldNet would offer international IFAs research, marketing and administrative support services, the company said.

OFS WorldNet operates more than 70 international IFAs. Inter-Alliance was founded in 1994 and operates through 1000 registered individuals in the UK.

Inter-Alliance International runs 10 practices with 70 registered individuals operating out of south-east Asia (Singapore, Thailand and Malaysia) and Africa (South Africa, Kenya, Zimbabwe and Ghana).

Mr Cosgrave said: "We have long recognized the need for an attractive proposition for experienced international IFAs whe are keen to be part of a recognized international group but who wish to retain their own individual brands.

"The Launch of Inter-Alliance WorldNet gives us the opportunity to combine the experience of OFS in the network market with the management and marketing resources of Inter-Alliance International"