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BBB relaunches DA channel

Berkeley Berry Birch is relaunching its directly authorised channel as Berkeley Direct, offering IFA firms a core service with a 2.5 per cent charge.

BBB is also re-engineering its traditional network and rebranding it Berkeley Network.

Berkeley Direct, formerly known as Berkeley Support Services, says it will offer market leading PI rates as well as bolt-on services on a pay-as-you-go basis.

Berkeley Network, which replaces Berkeley Independent Advisers, offers a pricing matrix tailored to a firm’s risk profile and requirement for services. Each firm is benchmarked against risk criteria, determined by the level of support services required to ensure compliance. Firms which operate effectively within the regulatory framework will pay much less than those who require additional resources. Berkeley Network claims this will result in the removal of cross-subsidy issues where efficient IFAs subsidise less efficient ones.

Berkeley Network sales and development director John Hayden says: “Both packages are extremely competitive and these developments demonstrate our commitment to the traditional network and a direct proposition.”

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