Prestbury Share Discussion Threads

[1ocnik] 07/2/2007 16:52

Nowhere fast am told...;-(

Kinco

[mrsasal490] 07/2/2007 16:48

Well Dale knight didnt even last a year !!

Latestarter ....... have you got back in the loop yet with Lee, where are we going ? (Not round and round i hope as i get dizzy far to easily !!)

[1ocnik] 07/2/2007 14:49

Ladies and Gents



Please be advised that following consultation and our annual business review, the southern sales directors role is to be made redundant and will be replaced with 2 industry qualified in house professional development managers..



The successful Prestbury.com platform; coupled with increased compliance and provider day to day involvement has lead to the organic creation of the in house PDM's. The development managers will plan and develop the regional road shows and will be in touch with you over the coming weeks to go through a 5 min questionnaire to ascertain how you would like to make best use of your valuable time on these development days.



Emma Mackay; who has been with Prestbury for the last 5 years and is well known to a large number of you has been promoted to a PDM. Another PDM will be introduced to you over the coming weeks.



The PDM's will work with Kevin Sample who will become National Sales Director; Steve Keenan and Myself as always are here on the phone if needed.



Whilst the industry continues to change more rapidly than ever before, delivering developments and opportunities immediately to you is our priority and we are confident that these personnel changes will provide enhanced value.



We would like to thank Dale for his work over the last twelve months and wish him well for the future.



If you have any questions please feel free to call either Kevin, Steve or myself on the direct lines below.



Lee Birkett 01625 591401

Steve Keenan 01625 591402

Kevin Sample 01625 591446

[Abuse team] 07/2/2007 09:49

Post removed by ADVFN

[mrsasal490] 07/2/2007 08:25

Worm

I dont think the results will ignite this share either, seem to have lost its way, no trading statement pre results closure, no news, very few new AR's (none this year).

Wonder if the MM's have shifted the stock they needed to, i think i counted up to about 900k of buys before it all dried up.

Guess results will be in next 7days as previously the window was Jan 31st to Feb 14th ?

[wormcatcher] 06/2/2007 13:05

Back to normal - yawn.
No results or announcement of date yet either.

[unisave2] 25/1/2007 17:08

I hear Inheritance Service doing really well

[baggywrinkle] 15/1/2007 12:27

Wasn't aware that PBH was still selling life assurance (via Prestbury Investment Management Ltd) to Sun and Times readers.
Saw that PIM launched an Inheritance tax service on 20 Dec to readers of Times and Sunday Times.

[mrsasal490] 11/1/2007 14:10

Many Thanks

[zinco1] 11/1/2007 13:44

Corporate Synergy Plc ring round their clients off loading the placing and their now simply putting them all through the market which is something they have to do....they paid 20p for them and are off-loaded at 21.97p...nice work when you can find it....;-))

[mrsasal490] 11/1/2007 13:37

Zinco

Why would the buys come through now from the placing when this was done prior to the 18th and trading commenced on the 21st dec for them,also with a buy price of 20p all the trades this week have been over 21p, so dont think these buys are related in anyway to the placing but i stand to be corrected.

[zinco1] 11/1/2007 11:33

The trades were seeing now are from the 5,000,000 new shares being placed by Corporate Synergy Plc as for AR's leaving PBH am told this was always going to happen as PBH want the bigger players and not the one man band outfits....

ps...i was told they were one or two issues that some were unhappy about but now things have been resolved for now!!....;-))

[james 2] 11/1/2007 11:32

Mr S will it not be related to the placing with Corp synergy ?

[baggywrinkle] 11/1/2007 11:25

Based on FSA, net change in no of ARs in 2006 was as follows:

2006
Q1: minus 11 plus 6 = net minus 5
Q2: minus 7 plus 4 = net minus 3
Q3: minus 7 plus 3 = net minus 4
Q4: minus 10 plus 3 = net minus 7
Year: minus 35 plus 16 = net minus 19 to give 116 ARs at end 2006.

So there has been considerable churn - maybe letting some of the lower performing ARs go.

What we do not know is how many individuals work for each AR, and therefore what change there has been in total number of individuals over 2006. Stated aim of PBH is to increase revenue per "registered selling adviser".

[mrsasal490] 11/1/2007 11:24

718k worth of buys,

1. Why the sudden buying, surely not just the run up to results
2. Why no price increase, large overhang or working a large sell ?


Answers on a post card please ...........

[wormcatcher] 11/1/2007 10:56

The buying has remained steady for the last couple of days since Tuesday's 600,000+; but still no move up.

[wormcatcher] 11/1/2007 09:00

James,
Took a look at that - if I'm reading it right then Prestbury have lost a lot of the ARs that Blue Pearl had (upwards of 40 at first glance).

[james 2] 10/1/2007 14:40

Worm, you can see a list of previously attached firms.

Above the main AR list you will see ;

Please click here to see Appointed Representatives previously attached to this firm

regards

[wormcatcher] 10/1/2007 14:36

The table from the FSA site only has 116 ARs on it - I seem to remember a year or so ago when Blue Pearl moved over to Prestbury, they had 130+.

[latestarter] 10/1/2007 14:02

yea still on a sabatical back to the grind next week, whats the story here?

[mrsasal490] 10/1/2007 12:32

Jeez u ok LS !!

[latestarter] 10/1/2007 12:28

morning all, whats been going on here then?

[mrsasal490] 10/1/2007 09:41

The number of AR firms in mortgage networks is growing but expansion among smaller networks is slow which might provoke a strategic rethink over time, says Richard Griffiths
The table below shows that there were 2,933 appointed representative firms in the mortgage networks as of December 31 2006. These figures, which are extracted from the Financial Services Authority web register, only include networks regulated for mortgage and insurance activities.

The growth rate in mortgage AR firms in Q4 compared with Q3 (Mortgage Strategy October 9) is 5.2% which is just short of the average long-term quarterly growth rate of 6%. The unceremonious dumping of 99 AR firms by IFA network St James's Place last year could help explain this growth although it is impossible to say how many firms transferred from St James's Place to other mortgage networks without analysing the FSA data in greater detail.

But what is clear at a glance is that overall mortgage AR growth is largely down to the increase in AR numbers at Home of Choice. A rise of 75 in the three months to December 31 enabled it to nudge into second place. Conversely, Mortgage Next has seen a decline during the same period.

Meanwhile, Prestbury has dropped out of the top 10 for the first time in two years which is something of a blow for a company which proclaimed plans to grow its number of ARs last year. In a statement released on December 18 the company announced the placing of five million new shares pledging that the £1m raised provided the company with the capital to accelerate the recruitment of ARs.

Prestbury chief executive Lee Birkett is reported to have said that the company aims to have over 200 AR firms by the end of 2007 as it strives to become the biggest.

This is fantasy. Everyone in the industry knows that Home of Choice will become the biggest. Indeed, the indications are HoC already believes this to be the case. Please ignore the numbers in the table - what does the FSA know anyway?

But a fight for the top network positions in this year's table looks to be in prospect as new players enter the race such as Premier Network Partnership. Trading as PNP Group, the network has seven AR firms including three firms which are ex-Genesis Home Loans/Genesis members - the result of a possible mutiny when they jumped ship and joined PNP on the same day last July.

It is interesting to note that one of the network's ARs, 1st Call Mortgage Choices, is also shown as an AR of Pink Home Loans. But no doubt those involved will have relished setting up the multi-principal agreement required under the FSA's rules - you do have one, don't you?

On a more serious note, in an interview last year PNP compliance manager Paul Fisher insisted he saw no problem in running a small network profitably. This seems to be a view held by many smaller networks - hence no headlong rush into consolidation.

It is interesting to ponder how long this independence may be enjoyed given smaller networks' potential for growth. Growth over the past two years has been slow and laborious for many which may mean that sooner or later business strategies will have to be reviewed. But with the number of networks remaining strong at 25 last year, this rethink is likely to be a long way from management thinking for some time to come.

Table link ........