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Positive Solutions points to £80m float bonus deal

Positive Solutions’ partners could share an £80m cash pot if the company meets its targets for a 2010 flotation.

The company is aiming for a flotation value of £660m backed by a total of 2,500 advisers and an annual turnover of £150m with adjusted operating profit of £25m.

Parent company Aegon has agreed to make £80m available to be shared between advisers who are eligible for the partnership share scheme.

The incentive was announced at the company’s annual partner forum at the International Convention Centre in Birmingham last Thursday.

Current partners will also be rewarded for recruiting new members through a points-based system.

Existing partners will get 3,000 points for each IFA they recruit if both remain with the firm until the end of the scheme. The recruit will also get 3,000 points if they stay for the duration of the scheme.

Advisers writing £25,000 of business within the next six months will get an additional 1,000 points. For example, an adviser recruiting three new IFAs to Positive Solutions and producing £25,000 within the next six months would get 10,000 points worth £100,000 if the scheme succeeds.

New recruits must be qualified to CF2 level, be earning at least £30,000 income and to have worked as an IFA for at least two years.

Chief executive Neil Johnson says: “Many failed companies have been propped up by providers but they are unable to defy gravity for ever. It is our corporate aim to reach our target of around £660m entity value to allow a flotation by March 2010. This is demonstrating a genuine partnership.”

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