Jones Lang Wootton’s financial services subsidiary have become licensed dealers in securities as a presage to unitisation of property investments.
They have taken membership of NASDIM — the National Association of Securities, Dealers & Investment Managers — which confers a licence to deal in shares on the partners in the financial services subsidiary: Adrian Whyatt, Robin Broadurst (who sits on John Barkshire’s committee into unitisation), Michael Follett, Chris Bartram and Martin Lewis.
Consultant Noel Taylor stressed that this does not mean the firm are moving into stockbroking. At present they can undertake any type of property financing except offering shares and — presupposing unitisation becomes a reality — would have to bring in a stockbroker to do this.
He says if the clients know they cannot get this service from surveyors they may well take the rest of the work elsewhere.
