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Park Row takes mix and match approach to advice

National IFA Park Row is aiming to expand its business through a team

of multi-tied advisers selling Sandler-type products following

publication of the FSA depolarisation proposals in CP166.

The group says it wants to divide its 230 Park Row Associates IFAs,

segmenting them into a multi-tied team, a fee-based division of

advisers targeting higher-net-worth clients and IFAs working on a

commission basis.

It believes its mix and match approach will allow it to target the

middle mass market by offering different levels of advice for

different types of client.

Over the next year, it will be recruiting up to 80 advisers from

outside the industry who will be trained initially through its

mortgages arm.

These advisers will be assessed on ability and subsequently assigned

to the different divisions.

Head of communications Jo Smith says: “How many products do you

really need to offer to be providing the best service and the best

advice? In some specialised areas such as retirement products, there

are already unique products.

“We are going to keep our view open. If there is a commercial benefit

to multi-tying, then we would expand around that scenario.

“More ties will enable both distributors and product providers to

have joined-up progressive solutions.”

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