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Bankhall sees fee transition

Bankhall says it is is seeing growing interest among advisers to move to a fee and renewal income model.

In its latest series of adviser roadshows launched this week, the support services company says 220 firms have already indicated that they are keen to explore a new business model.

Chief executive Peter Mann says compared with last year, when hardly any firms were looking to change their remuneration model away from commission, he is impressed at the level of interest.

Mann says he is pleased to see more recognition for the role of distribution in the value chain, demonstrated by an increasing amount of investment by providers in intermediary firms.

He says: “We have seen a huge rise in the number of principals coming out to listen to what we have to say with regard to the transition of their business model.

“It is not even just about fees but there is certainly a growing appetite for looking at other business and remuneration models than there was this time last year. It is nice to finally see people recognising that distribution firms are better value now.”

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