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Legal teams bid to aid IFAs on depolarisation

Commercial law firm TLT has set up a specialised legal team to help IFAs through the shake-up of their businesses amid the polarisation reforms.

The Bristol firm plans to make the service available nationally, with four or five partners with different specialities on board.

The team will offer legal guidance areas including compliance and training, dispute resolution, employment considerations and mergers and acquisitions.

TLT says the FSA&#39s polarisation reforms will be raise many questions over the fut-ure status of firms and IFAs will need help in making sense of them.

It says some advisers may want to expand, others may want to merge their businesses while some may want to leave the industry.

TLT predicts there may be those who want to challenge the reforms on the basis of hindering competition or infringement of human rights and says the team can aid them in this area of litigation.

Managing partner Robert Bourns says: “The aim is to provide a complete solution to IFAs&#39 needs nationally. Geographical location is no longer an issue. IFAs all over the UK are going to need specialist legal advice if the polarisation reforms proceed as proposed. Many will want to review their business platforms and many will consider becoming distributor firms on a multi-tied basis.”

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