PosSol sheds partners as it strives for quality

14 January 2010 | By Leah Milner

Positive Solutions says it lost a large number of poorly-performing partners in the last quarter, with total numbers dropping from 1,662 at the end of 2008 to 1,614 at the end of last year.

Positive Solutions says the loss of 48 partners over the year was a result of the firm focusing its efforts on “high-quality IFAs”. It says that despite the overall drop in numbers, the firm recruited 234 partners over the year with 47 more committed to joining.

Chief executive Jim Reeve says: “It is true that our partner numbers have reduced during 2009 but we delivered a very strong recruitment performance in the year as 234 joined and a further 47 IFAs committed to joining us.

“A large number of partners left us in the last quarter as we increased our focus on supporting high-quality producers. The quality of the IFA continues to be key for us. The majority of our new recruits continues to come from the directly authorised sector.”

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