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Ashley Law starting share option scheme for partners

National IFA franchise Ashley Law is setting up a share option scheme to allow members to participate in its growth.

The shares – to be offered in Ashley Law parent Ashley Law Management Services – will be offered to any of the firm’s 85 franchise partners who achieve 60,000 annual turnover with a decent persistency rate.

ALMS is 50 per cent owned by directors Jock Cassidy and Martin O’Kelly. Of the remaining 50 per cent, half will be allocated to franchise partners and the final 25 per cent will be available to outside investors.

Ashley Law has a total of 120 registered individuals across all franchise businesses. Managing director Jock Cassidy says it has no plans to establish a multi-tie, seek provider investment or engage in merger or consolidation.

It says the share option scheme will allow low-cost growth while rewarding long-standing partners and offering incentives for new ones.

Cassidy says: “We have no plans to change our model although we will always keep an open mind. There is no need at the moment to engage in merger or consolidation. We are busy investing in internal business development.”

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