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Para service is key for 2plan

2plan made a loss of £1.86m for 2008, compared with a loss of £1.44m incurred by the IFA firm in 2007.

The firm says it had recruited 100 RIs as at the end of the full year’s trading. Chief executive Chris Smallwood says the firm exceeded its expectations and is well placed to meet the demands of the retail distribution review. He says the business has invested heavily in developing its systems and boosting its recruitment team. It rebranded to 2plan Wealth Management last October and has been developing its central chartered paraplanning service, which it sees as a key differentiator in attracting IFAs to sign up.

He says: “2plan continued its heavy investment in the infrastructure of its staff, systems, processes and recruitment team. But the changing regulatory landscape and deteriorating economic conditions made 2008 a very challenging year.”

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