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Burns Anderson in network deal

IFA network Burns-Anderson is offering a new service for IFAs who want the benefits of the network but want to stay independently registered.

The service, called Ultraviolet, starts this week. It will allow IFAs to be registered directly with the PIA but keep the benefits of being linked with a major network.

Burns Anderson believes the service is needed because the competitive and highly regulated financial services market is making it increasingly difficult for financial advisers to provide truly independent advice.

It sees the traditional scope of a network and the support it can offer as no longer applicable to financial advisers across the board.

Many advisers want to retain their extra degree of independence and be in control of the standards of their own operations.

The service has been priced on the cost of regulation and the input required from Burns Anderson rather than the turnover of the IFA firm.

There are three pricing levels – sole traders, firms with two to nine advisers and those with over nine advisers.

A number of added-value services are available in addition to the core service package. These include profess- ional indemnity cover, business development support and more extensive training and competency support. These are available on a menu basis so IFAs can tailor the package to their needs.

Ultraviolet will also help IFAs through the admin involved with the PIA registration process.

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