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IFDL sales director exits for sunset clause-tackling venture

IFDL institutional sales director Rob Beverley has left the platform provider to join newly launched marketing and technology firm Sentinel alongside Succession co-founder Andrew Smith.

The firm aims to assist advisers and platforms in moving clients onto an adviser charging model prior to the imposition of the sunset clause on legacy fund manager payments to platforms in April 2016.

The business will look to offer advisers an online account through which clients can access a number of propositions, from direct transactions through to full advice.

Smith takes up the role of Sentinel chief executive whilst Beverley becomes chief operating officer. The firm has been in development over the last 12 months.

Beverley says: “The RDR has unexpectedly created the often talked about ‘advice gap’ for many mass affluent clients. We have set out to create a service for use by advisory firms to provide an efficient and profitable online advice and servicing capability for those disaffected clients, enabling them to re-engage effectively in the mass affluent segment in tandem with their core client proposition.”

“Sentinel’s primary focus is to help advisory firms enhance their business models particularly with the approaching sunset clause in 2016, powering delivery and advice processes across wider segments of their historic client base.”

Smith was a founder and chief executive at HambroFraserSmith, and latterly chief operating officer at Succession before his departure in July 2012.

At IFDL Beverley was responsible for providing platforms to key clients such as Towergate, Intrinsic, Openwork and Succession.

IFDL has yet to appoint a replacement for Beverley.

The pair have previously worked together at platform consultancy firm Adnitor and American Express.


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There are 3 comments at the moment, we would love to hear your opinion too.

  1. Freddie Findlater 8th October 2014 at 10:14 am

    Congratulations Rob – top work! Good luck to you.

  2. Many advisers have been taking trail for doing nothing. I know I have a PEP. I guess some new propositions will involve churning folk like me into a new investment where they take a crumb for doing no more than nothing again. Cool. Carry on ….and as for the regulator……wake up.

  3. Correct me if I am wrong, the sunset clause only apply to platform business? Whilst nearly half of our business is on platform, all bar one consumer is on an on going service contract.of platform will not be affected and in our case most off platform consumers are also on an on going contract. Until the F-pack respect the longstop, we cannot remove or suspend receipt of on going commission on old contracts. As it is an infinite unlimited liability otherwise with nonincome to cover it.

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