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Phil Billingham Partnership offers advisers ‘independence audit’

The Phil Billingham Partnership has launched an ‘independence audit’ service for advisers wishing to review whether they should label themselves as independent or restricted.

The firm, which provides management training and business consultancy to financial advisers, says many advisers remain confused about which label they should choose.

It is offering a telephone and email based audit, which costs from £500, and an onsite service, which costs from £2,000.

The service aims to address issues such as the internal processes needed to prove independence, and the implications of going restricted in terms of marketing and communication. 

PBP director Susan Jordan says from the firm’s discussions with advisers in recent months, “it is clear that there is more confusion within firms than is healthy”.

She says: “They need to plan where they are going in 2014, and know it is a safe option. We see these services as a ‘sense check’ confirming where firms have got it right, and giving practical guidance where required.

“It may be that restricted is the right option for some. We will help clarify the choices firms have.”


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