Berkeley Berry Birch, the Coventry financial advisory group under-going a restructuring and re-financing has sold the current client bank of its Private Insurance Portfolio division.
It has gone to the management team of that division for £275,000.
Private Insurance Portfolio is a trading style of BBB's subsidiary Berry Birch & Noble Insurance Brokers and provides specialist insurance products to wealthy individuals.
"This disposal will benefit the group by removing the financial commitment to what was a start-up enterprise," the company stated.
It said earlier this week after talks with the Financial Services Authority that a small disposal was imminent. ..SUPL: