Axa is believed to be looking to recruit an IFA firm in each region around the UK to co-ordinate the recruitment of further advisers as part of its plans for creating multi-ties following depolarisation.
The company intends to use the experience it has obtained through sister companies in non-polarised nations and from running a tied agency network and direct salesforce to develop a distinctive multi-tie proposition, Money Marketing understands.
Further details of Axa's post-depolarisation plans are thought to include recruiting an IFA firm in each region which would then recruit further IFAs, which would keep their client ownership.
It is also understood that Axa will offer technology, training and competence, recruitment and business consultancy services, along with professional indemnity solutions and enhanced commission, but no lead-generation.
Axa sales and client management director Gary Tarleton denies the company is looking to recruit an IFA in each region to recruit others, saying it has not taken stakes in IFAs and does not intend to do so at this stage.
Bankhall director of marketing Tony Murrell says IFAs need to look carefully at things, such as the legal definition of client ownership, rather than just accepting what a provider says it may mean.
Tarleton says: “We are successful in all three elements of distribution, including being primarily IFA and also in the tied agency and bancassurance. What we are looking to do under multi-tie and depolarisation will be to lever our experience in each of the different distribution elements across our distribution.”
Murrell says: “IFAs too easily accept what looks to be an attractive proposal without carefully studying the ramifications of the exit route.”