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Multi-tie prospects losing ground

Support service provider Threesixty Services says multi-ties have slipped down its agenda as it is optimistic over prospects for growth in the independent channel.

It says it will focus its efforts on the independent sector rather than multi-ties.

Since depolarisation, the company has been in discussions with several partners about the options available to them but says it is too early to feel confidence over any single route.

Threesixty Services – which has 170 firms and 700 registered individuals – says it will complete its beauty parade of multi-tie partners by March but says advisers are more likely to want to remain independent. The firm is maintaining its focus on delivering support services to clients. Incentives for advisers to buy into multi-tie will come in the form of commission structure, strength of product and improved service.

Partner David Bratessani says: “We have been keeping an eye on the FSA’s stance over multi-ties for the last 12 months and feel that we have made the right call in holding back on the multi-tie option. Our growth plans are geared towards the independent and whole-of-market advisers. We feel there is enough opportunity for growth in this market without having to prioritise multi-tie.”

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