Discount brokers to seek survival through alliance

groups to combine businesses and seek venture capital funding in bid to beat slump

Four of the best-known discount brokers are to combine their books of business and seek venture capital funding to survive the prolonged bear market. The Isa Shop, With-profits Shop, HCF Partnership and Willis Owen have as yet not finalised a deal but a new company Money Portal Plc has already been established and a website name registered at moneyportal.co.uk. Investment Week understands that Isa Shop has put together venture capital funding to consolidate the businesses. The four are looking to add another three discount brokerage by the third quarter of next year with a total targe...