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Buckles deal takes Zurich RI signings to 200

Zurich Advice Network is continuing to lure IFAs over to its side of the fence with the signing of IFA Buckles, which claims independence is no longer viable.

The North Wales firm has an annual turnover of £3m. Nineteen advisers are currently being trained by Zurich. Zan has also signed North London IFA Chenkin James Associates, bringing the number of RIs it has signed this year to 200. The move means the firms lose their independent status and join Zan&#39s tied proposition, which is expected to become multi-tied following depolarisation.

Zan claims its model will be attractive to IFAs hit by falling margins and difficulties over issues such as PI insurance.

Buckles chief executive Nigel Speirs says: “It is no longer effective for us to distribute by the old channels. Zan provides our advisers with excellent training and comprehensive, relevant support for our day-to-day operations, such as compliance and indemnity costs.”

Zan sales director Andy Ferns says: “As the debate on the future of regulation continues, we anticipate the number of IFAs realising their business can flourish through association with Zurich will increase further. The franchise arrangement gives them the autonomy to develop in line with their business strategy, with the backing and support of a global player.”

Needanadviser.com director Jo Roberts says: “Zurich are buying client banks. It will appeal to older-style IFAs who cannot see a future and who will be able to get out when they want.”

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