Bank of Ireland has put up for sale the financial advisory and investment company Chase de Vere.
BOI bought Chase de Vere in 2000 for a reported £110m and is now looking to offload the non-profitable side for around £10m stating that it does not fit within its core business.
Our view
Yet another huge financial adviser group is deemed to not be profit worthy. Is it any wonder that with the costs of regulation, the increasing incidence of compensation claims and much leaner and meaner adviser machines coming to market, the old way of doing business cannot survive.
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