Press Releases

Financial Mirror
May 14-20. 2003
"Inter-Alliance WorldNet launches recruitment drive"

Inter-Alliance WorldNet (lAW), a subsidiary of Inter-Alliance International, and part of Inter-Alliance Plc, has embarked on a new recruitment drive for new members.

A new brochure has been designed to emphasise the message to international IFAs that the marketplace for them is changing rapidly.

A fully revised set of membership rates sees costs for members slashed from a previous high of 15% of turnover to a new maximum of 8.5% reducing to as low as 1 % depending on turnover volumes and quality of business.

lAW also plans to announce a series of appointments of regional directors and business hubs as part of a strategy to ensure that it has "same time zone, same jurisdiction" service for its members and with a view to working in closer liaison with product providers to improve service and reduce costs.

A revamped website (www.iaworldnet.com) has been launched and final preparations have been put in place for a marketing seminar to be held in Limassol on Sunday, May 18. The seminar, entitled "Prospering in a Changing Market", is open to existing and prospective members.

lAW has also promised to announce details of its proposed equity participation and practice buy-out schemes for its top performers before the end of the year.

These initiatives are part of the restructure of the company, which recently underwent a name change and full re-branding as part of a drive to become a dominant force for IFAs in the offshore financial services marketplace.

Brian Cosgrave, Chief Executive of Inter-Alliance International and Managing Director of Inter-Alliance WorldNet, said: "Our staff in Cyprus have worked very hard to ensure that the re-branding and re-launching exercise went according to plan. We have long recognized that the international marketplace for financial advice has been evolving. However, real change is now on its way and for those IFAs who have not prepared, the challenges will be quite threatening."

Kevin Mudd, Chairman, Inter-Alliance WorldNet, said: "This is the first phase in the re-launching of WorldNet and I am very pleased that we have been able to deliver on our promise to members of a reduction in their costs alongside an improvement in service standards."

Inter-Alliance International Group (Cyprus) Ltd is the International arm of Inter-Alliance Group Plc. It has 10 offices with 70 licensed advisers operating out of South East Asia (Singapore, Thailand, Malaysia and Labuan), Africa (Kenya, Zimbabwe, Tanzania and Uganda) and the Middle East (Cyprus and Bahrain).