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Shift to multi-ties is not inevitable

Most small IFAs I speak to are fed up with speculation over polarisation and the seeming “inevitability” of a move towards multi-ties.

There may be attempts to force us down a multi-tied route but those that seek to do so fail to under-stand two important factors:

1: Small IFAs have many clients of long standing whose diverse investments in many instances are producing a significant proportion of renewal income.

How can we explain to these clients that we can no longer administer or advise on the very products we previously arranged?

2: Most small IFAs are ex-life office employees who have absolutely no desire whatsoever to be associated again (that is tied) to a single principal life company.

We watch the behaviour of our networks with suspicion and I have no doubt that, should there be a move in the direction of the appointment of “regional sales managers” or imposition of sales targets, many members will vote with their feet (Misys, please note).

Small IFAs are fiercely independent and the majority are far more likely to chose early retirement than any form of multi-tie or imposition of management of their activities.

Chris Sheldrake

The Insurance & Investment Service,

Ferndown, Dorset

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