View more on these topics

Network aims to free &#39imprisoned&#39 advisers

Bristol IFA practice The Kilminster group is setting up a new network which it claims will free advisers “imprisoned” in their existing networks.

The Kilminster Partnership will operate as a new division of the group and has already signed up seven firms and 20 RIs, increasing the group&#39s total number of RIs to 65.

Although it plans to offer compliance, training & competence and PI cover and will be regulated by the FSA as a network, Kilminster insists it will not operate as a conventional network and intends to increase to a maximum of only 200 advisers.

The partnership is in the process of closing deals with five more companies which will expand its coverage to Gloucestershire, South London, Southport, Kent and Cheshire.

It is hoping to attract 30 more firms with about 120 more consultants by the end of the year.

The partnership is planning to charge members initially on a commission-only basis but has set up both feeand commission-based payment options for the future.

Group operations director Stephen Gazard says: “Through our discussions with key figures within the industry, it became apparent that some of our most senior qualified individuals see themselves now trapped as prisoners rather than members within our networks that consistently over-promised and under-delivered and charged excessive fees for the privilege.”

Recommended

Tories bring in plans for patient&#39s passport

Patients would be encouraged to seek treatment from private medical insurers and self-pay providers under Conservative proposals aimed at fundamentally reforming the NHS.The idea of a patient&#39s passport was outlined by Shadow health minister Dr Liam Fox at the Tory Party&#39s spring conference in Harrogate last weekend.The proposal is initially to enable patients to go […]

1st Software offers client profiler to cut down risk

The risk of IFAs misadvising clients could be substantially reduced with a new psychometric profiler from technology provider 1st Software which aims to accurately assess clients&#39 attitudes to risk.The investment risk profiling tool will go live for the 8,500 advisers using 1st Software&#39s Adviser Office technology across 900 IFA businesses in the coming weeks.Developed in […]

Investors out for the discount

Invesco Perpetual is extending its 2 per cent discount on all Isa investments and Pep/Isa transfers until April 5, including its monthly savings and phased investment options. It is also extending the discount to its corporate bond, global bond, monthly income plus and European high-yield funds for investments made outside an Isa. JP Morgan Fleming […]

This year&#39s model

The final nail has been well and truly hammered into the coffin on polarisation with the publication of CP166.Yet, while a depolarised world undoubtedly offers many opportunities for IFAs, providers and customers, it brings developments that have already attracted criticism.But the changes are positive for IFAs. A year ago, there was real uncertainty and the […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com