Press Releases

The Cyprus Weekly
May 16 - 22, 2003
"Inter-Alliance WorldNet launches recruitment drive"

Inter-Alliance WorldNet (IAW) has announced the commencement of a new recruitment drive supported by a number of initiatives aimed at enhancing it’s added- value offering to members.

A new recruitment brochure (with an integrated media card) has been designed to emphasise the message to the international IFAs everywhere that the marketplace for them is changing rapidly. The brochure, with its strong undertones urging IFAs to address the changing market positively, is now being used as the cornerstone in the drive for new members.

A fully revised set of membership rates has also been launched which 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.

IAW also plans to announce shortly a series of appointments of Regional Directors and Business Hubs as part of its strategy of ensuring 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.

Website

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

IAW will now turn its attention to training and marketing support with a number of initiatives planned for launch during and after the summer months. IAW 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. The initiatives are part of the restructure of the company, which recently underwent a name change and full re-branding exercise as part of its drive to become the dominant force for IFAs in the offshore financial services market place.

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 believe that the revised service offering to members beats anything else in the market and, yet, we are just beginning.

"We have already had some excellent enquiries from interested parties and I hope to be making some announcements in this regard shortly. We have long recognised 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. These are exciting times in the industry and we relish the challenge".

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. We recognise that there is much yet to be done, but we are determined to achieve our goal of making Inter-Alliance WorldNet the leading brand for marketing, administration and support services in the international IFA market".

Inter-Alliance International Group (Cyprus) Ltd is the international arm of Inter-Alliance Group PLC. It operates 10 offices with 70 licensed advisers operating out of South East Asia, Africa and the Middle East.

Inter-Alliance also operates a joint venture international I FA network based out of Cyprus - Inter-Alliance WorldNet, with the combined Group offering a total of 150 Registered Individuals globally.

Inter-Alliance Group PLC is the UK's leading National. Independent Financial Advisory Group and the UK's fastest growing mid-cap company (Deloitte & Touche Indy 100 Awards). It operates through over 1000 registered individuals from locations throughout the UK. Inter- Alliance floated on The London Stock Exchange's AIM market in 1998.