Clarkson Hill Group, the Cambridgeshire-based national IFA with 300 advisers, hopes to select a wrap partner by the end of the year.
The group is investigating several wrap providers. It aims to move its advisers to more feeand renewal-based income although it still recognises a place for commission.
Director of strategy and development Bill Moncrieff says: “We are undertaking due diligence on a number of platform providers and assessing our own advisers on their competencies for this undertaking.”
Clarkson Hill is partnering with Enterprise Group for its sub-prime packaging business. Moncrieff says joining up with an established packager will cut through the complexity of the changing regulatory landscape in relation to specialist areas such as sub-prime.
The group uses Trigold for its prime business but says a specialist area such as sub-prime needs additional expertise. It writes around £1bn in mortgages each year.
Enterprise chief executive Michael Clapper says: “We are pleased to be working with a well known and professional national IFA and are confident its Edge system will provide its advisers with all the support they need to remain safe in the sub-prime market.”