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Picture is Clear for Tenet wrap move

Tenet aims to move its adv- isers to a wrap-based business model with the launch of a series of online tools and services called Clear.

The network is signed up to the Lifetime wrap but says many advisers are confused by the technology and how it can help to streamline their businesses.

Clear, which will be bolted on to Tenet’s version of Lifetime, will educate advisers on the benefits of wrap and differentiate the service that it offers to its advisers.

Clear includes a risk-modelling tool devised with Old Broad Street Research, which provides risk analysis of individual funds as well as portfolios of funds.

It also features advice on how to build business value, exit strategy planning, introducing a fee-based structure and improving adviser’s record-keeping through a more robust audit trail.

Clear will be offered to all Tenet’s 5,000-plus advisers and will also be opened up to the wider market at a later stage. Tenet says it will cont-inue adding new features and services to Clear.

Chief executive Simon Hudson says: “We appreciate that this is a huge change in the way that IFAs are conducting their businesses.

“We are not naive about how big a hill this will be for most advisers to climb but the benefits to be gai- ned from adopting a wrap model early by far out- weigh the benefits of waiting to see what may become available.”

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