Independent Financial Advisor
Whether you're set up as an appointed representative (AR) or as a Registered Individual (RI) There are plenty of options and support available.
If you find yourself contemplating a move, here are the top four reasons that may be driving your decision:
Your current firm is considering selling, which could lead to uncertainties about the future and may prompt you to explore alternative options.
You desire to retain a higher portion of your income.
Perhaps you require additional assistance with administrative tasks or Paraplanning, and seeking a new partnership could offer the support you need.
You have retirement plans, but your current firm lacks proper succession planning, making you consider other arrangements to secure your future.
It's important to acknowledge that finding a perfect 10/10 company may be unrealistic, however, making small changes can significantly impact your business. These changes may include refining processes, enhancing compliance procedures, leveraging advanced technology, or obtaining support for back-office tasks, as well as devising a robust succession or retirement plan.
For us we partner with firms that are a good size, complete independence, and have comprehensive back-office support. Moreover, these firms can effectively assist advisors who are planning to exit the industry.
As an example, here is one of the firms that we introduce to advisors:
Number of ARs: 60
Number of Advisors: 128
Number of registered Individuals: 142
Total Independence: You have the freedom to choose any product and any provider. Additionally, they hold full advice permissions, ensuring you have complete flexibility. If you're considering succession planning or need support for funding a purchase, they've got you covered as well.
Sales support administration
Bespoke onboarding system
Plan information gathering service
Research package & Investment proposition
Training & Development (CPD, Individual, group, workshops, exams to Chartered Status)
Corporate advice package
Template website, newsletters, and Social Media package
Buy-out retirement package
Retention rates based on turnover:
£0 - £150,000 80%
£150,000 - £200,000 85%
For AR firms please add £50,000 per additional advisor to the thresholds I.e for you two setting up as an AR it would be:£0 - £200,000 80%
£200,000 - £250,000 85%
Back office support
With 20 employed Paraplanners, they have a dedicated and growing team to support your needs. Their paraplanning services are billed at a rate of £22 +VAT per hour, calculated by the minute. On average, across all case types, the time taken is just over 2 hours. It's worth noting that this cost is only charged if you choose to use this service.
This firm is just one of several that we connect advisors with. If you wish to have a discreet discussion about this and other opportunities, please make contact with Lee Old on email@example.com or 01268 669 313.