Outsourcing firm Compliancy Services is launching a new support services company for IFAs that will include a discount from a PI insurer.
Compliance Select is being set up by Compliancy Services managing partners Iain Stephen and Ben Mason.
Advisers do not need to sign a contract with the firm and can pay as they use specific services with prices tailored to each firm.
Compliance Select will offer a PI cover discount to all advisers using the firm and says it will reveal the insurer and more details in the coming weeks as it is currently restricted by a non-disclosure agreement.
Mason says: “We have an alternative vision of how to help financial advisers. We have the technical skills to offer support services and have spent considerable time thinking about an attractive proposition.
“We realise how important PI cover is to advisers right now and we are pleased to offer a discount with an insurer.”