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RDR to see IFAs link up regionally

Positive Solutions chief executive Jim Reeve says the RDR will lead to a re-emergence of regional IFA firms, where specialist advisers join together to offer a comprehensive service.

At PosSol’s conference in Birmingham last week, Reeve said IFAs will need to become increasingly specialist as 2013 approaches.

He said: “In the future, there will be more firms of IFAs created as advisers look to specialise in particular product areas. With the RDR, it will be difficult for one IFA to do anything other than specialise.

“There will be some generalist IFAs but, at a firm level, I can see the re-emergence of regional IFAs where there are clusters of five or six advisers working together to deliver a service and build a local reputation.”

PosSol announced it will introduce a network charging model, alongside the national model, with a menu approach to charges, giving advisers more flexibility to pick and choose the services they need.

The firm has formed a partnership with True Potential, allowing partners to access its wrap.

It is planning to launch a paraplanning service next year and is targeting further growth in its introducer business Positive Partnerships.

Hargreaves Lansdown head of advice Danny Cox says: “Positive Solutions has always aimed to offer something different to the networks. Providing more choice through a menu of services, including a network option, will broaden its appeal and provide stiffer competition for the other networks.”

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