This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. Find out more here.
X
MM-Cover-Small-210814.jpg
Categories:Advisers

Nucleus in trail offer to adviser

  • Print
  • Comment
Leah Milner
Nucleus has agreed to pay trail commission to an adviser for a temporary period after he left one of its member firms.

In last week's Money Marketing, Ed Fairey criticised the wrap provider for saying it would stop commission payments after he left Helm Godfrey to set up Fairey Associates.

For Fairey to be granted an agency to service his clients' portfolios and continue receiving commission, Nucleus said he would have to pay £15,000 to £20,000 to buy a shareholding and become a participating member.

Nucleus now says that, provided Fairey gets permission from clients, he can receive trail for six months to give him time to decide whether to keep them on the wrap or move them off.

In an email to Fairey, Nucleus says it is bending over backwards to help him by amending its processes.

Fairey says: "Fortunately, my clients' assets are held in Oeics, unit trusts and Isas but what would happen to clients of an IFA who invested in an offshore bond in which substantial gains were made?"

Nucleus chief executive David Ferguson says: "We would make sure the client was not disadvantaged by keeping the bond with the provider so the client could hold the assets on another platform within that wrapper."

  • Print
  • Comment

Daily Email Updates
If you enjoyed this article, sign up to receive the latest news and analysis from Money Marketing.

The Money Marketing CPD Centre
Build your annual CPD - you can log and plan your CPD hours for free with The Money Marketing CPD Centre.

Taxbriefs Advantage
Advantage is a digital reference source giving unbiased, independent, answers to your technical queries. Subscribe to Taxbriefs Advantage.

Have your sayEdit my profile/screen name

You must sign in to make a comment

Fund Data

Editor's Pick



Poll

Do you think interest rates will rise before the end of the year?

Job of the week

Latest jobs

View all jobs

Most recent comments

View more comments