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Firm aims to help advisers make the transition to fees

FP Advance has set up a business consultancy practice which offers help to advisers looking to move towards a fee-based model.

The firm says it will offer specialist advice and training to advisers, networks, nationals and wrap or product providers looking to support fee-only practices.

FP Advance, formerly operating as FP Transition, says with the changing regulatory environment and increasing cost pressures on IFAs, many advisers think that moving to a fee-based model will add another layer of complexity.

But managing director Brett Davidson, an Australian financial planner who migrated his own practice remuneration from commission to fees, says the methodology that his firm employs will enable firms to increase their profitability as well as provide better service to clients, with reduced admin.

Davidson says FP Advance’s charges are based on a percentage of the client firms’ turnover but all programmes are developed on a bespoke basis.

He says: “Our methodology has enabled many firms to look at a new way of working, with increased profitability, better client servicing and reduced admin burden.”


Two-year wait is over for life cover

Lifesearch has finally completed a life insurance policy which has taken two years to process. The 50,000 life-only policy for 16 years was submitted in June 2004. Head of protection strategy Kevin Carr says there were delays such as changes in the client’s circumstances, including occupation and health and delays in getting various medical reports […]

The lion roars

Last week saw me visiting Liontrust in its offices adjacent to the Savoy. Nigel Legge, one of its founders, and I go back a long way. Indeed, it is true to say that most of the original team and I are old muckers, as we all worked together at James Capel. Liontrust may have had […]

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Johnson Fleming set to host webinar on auditing auto-enrolment schemes

With 23 auto-enrolment compliance notices issued by the Pensions Regulator, and an evolving legislative landscape meaning previously compliant schemes may now be in breach of regulation, now is the time to think about auditing your auto-enrolment scheme. Johnson Fleming is hosting a webinar on 9 October at 11:00 on how to audit your scheme to ensure compliance, avoid breaches and fines and overcome data issues.


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