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Baxter Fensham to franchise fee-based model to advisers

IFA Baxter Fensham is planning to franchise its fee-based model to firms wanting to make the transition from commission to fees.

From September, the firm will offer a franchise package for training and managing the move to fees.

Firms will pay an up-front charge and an annual fee for the franchise and are likely to be offered equity shares in the group franchise business to create a national IFA. Franchisees will benefit from deals on time recording software.

Baxter Fensham, which says it is in negotiations with several firms interested in its franchise, believes firms will increase their value by switching to an all-fee model.

Director John Baxter says: “Some IFAs are charging fees for a proportion of their business already but are not making money out of it. Advisers or firms that join us will have a template that they can adopt within their own business and which is proven to work.

“Because everything is backed up by processes, it means clients will get the same experience whatever franchise office they go to. Our model is immune to all of the reviews in the industry. If Sandler abolishes commission, our firms will not be affected.”


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