View more on these topics

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.”

Recommended

Equitable Life accuses IFAs of urging policyholders to quit

Equitable Life has attacked IFAs and the media for adding to its woes by encouraging policyholders to leave the troubled life office in droves.Speaking at Equitable&#39s annual general meeting in London this week, chief finance and investment officer Charles Bellringer said the interests of financial advisers do not tally with those of the society. He […]

Critical and income insurance sales hit record year

Individual critical-illness and individual income protection sales had a bumper year in 2001, surpassing previous sales records, according to the latest figures from reinsurer Swiss Re.In its 2002 edition of HealthWatch, Swiss Re shows that sales of individual critical-illness cover increased by 12 per cent to 872,184 from 780,271 in 2000 and individual income-protection sales […]

80% see income fall after retiring

People are experiencing a huge drop in income when they retire, according to Prudential.Its research found that around 80 per cent of pensioners see a drop in their monthly income averaging £347 after leaving full-time employment.A third of retired people are struggling to survive on less than £10,000 a year.Nearly one in five pensioners questioned […]

&#39Name and shame&#39 on endowments

The Consumers&#39 Association is calling on the FSA to create league tables to name and shame companies whose endowment policies are likely to suffer shortfalls.It also wants reform of the financial advice sector to be put on hold until the FSA has addressed the issue of commission-driven sales.The consumer pressure group has written to FSA […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com