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Bankhall bids for disillusioned IFAs

Bankhall is bidding to lure disillusioned IFAs out of their networks by running a series of roadshows promoting the benefits of direct regulation.

The support services operation says it has organised the seminars after being inundated with calls from unhappy network members who wanted to learn more about how to leave.

It believes 75 per cent of network members are disgruntled and estimates 45 per cent would leave their network if they were shown the best way to do this.

The seminars which are taking place in venues in the south east of England and Wales throughout February, will offer members advice about leaving networks and how they can gain access to income if they have their last three months of commission payments frozen.

They will also explain the different compliance, training and competence requirements of directly authorised firms, IT demonstrations and question and answer sessions.

Bankhall head of business operations Tony Murrell says: “We are putting together a series of roadshows that will cover the issues network members want to know all about.

“This includes highlighting the difference between network membership and direct authorisation and detailing how members can leave their network and take control of their commission agencies.”


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