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Hargreaves Lansdown to offer franchise for IFAs

Hargreaves Lansdown is planning to franchise a full range of investment services to other IFAs including access to its research department.

Writing in this week&#39s MM, chief executive Peter Hargreaves says there are many IFAs not in networks and missing out on the advantages of research departments and technology. They are more likely to keep clients if they have agreements with specialist IFAs.

The service is aimed principally at proprietary firms with two or three RIs without the infrastructure to offer a comparable service.

Remuneration would be on an individual basis. If large levels of business are transacted, the services could be white labelled, otherwise, they would retain the Hargreaves Lansdown branding.

Hargreaves says: “We are considering offering a formalised franchise service which would include wealth management, access to Vantage and so a direct link to our research department.

“There are many brokers who really do not want to belong to a network but miss out on some of the advantages. Very few small brokerages have the time, expertise or level of compliance to produce marketing literature, guides, newsletters, topic papers, commentary, etc.”

Pretty Technical director Jo Smith says: “Now the issue is adding value, which Hargreaves Lansdown&#39s research and technology could provide. The problem is whether IFAs could maintain their own identity.”

New Advisers, p52

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