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BIA sets up support firm

Berkeley Independent Advisers is setting up an IFA support services arm for firms which do not want to pay for its set menu of network services.

Berkeley Support Services will offer the flexibility to choose services while remaining directly authorised.

It has held talks with 15 firms interested in signing up, with the biggest having a turnover of £4.2m.

BSS says only a limited number of organisations offer support services and firms do not want to pay for services they do not need.

Firms can create a bespoke service, including compliance audit visits, compliance manuals, complaint handling consultation, file review and pension transfer verification.

BIA marketing and acquisitions director Hazel Hodge says: “This is a tailor-made service with total flexibility. It should appeal to IFAs that want to maintain their independence and who want a greater degree of flexibility in their relationship with their services supplier.”

Marshall Williams & Co managing director Ian Williams says: “This approach fills a niche because there are a lot of IFAs torn between whether to remain independent or multi-tie. This outsourced services model sits well with firms that want to remain independent after CP121 is implemented.”

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