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Discretionary deal for IFA Firms

Threesixty is offering a support package for IFA firms to help them move into the discretionary fund management sector.

Strategy consultant Phil Billingham says only around 2 per cent of adviser firms have discretionary permission but demand for expansion into the area is increasing.

He says: “There is room in the market for firms to move towards discretionary permission and we are seeing an increasing demand. This will particularly be the case if we see a levelling out of capital adequacy requirements between discretionary and non-discretionary firms.

“It allows firms to take more of the value chain for themselves, develop a clear client offering and add value. Threesixty looks after 25 per cent of firms with discretionary permission, so it is a natural space for us to expand into.”

Billingham says wealthier clients like the “concierge service” that discretionary management provides. He says: “Firms can attract clients that have been used to this service from private banks, which are now too expensive and not as good at building and maintaining client relationships as IFAs.”


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