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Sifa centres to target legal clients after N2

Solicitors for Independent Financial Advice is opening three advice centres staffed by IFAs to provide a financial planning service to clients of local law firms after N2.

The centres, run by Sifa&#39s sister company, Solicitors Financial Centres, are based in Teesside, Thames Valley and Exeter. Sifa aims to launch 50 more centres over the next 18 months across the UK.

The centres are staffed by IFAs who have experience of working in law firms. Solicitors can refer business to the centres from November 30, when they can no longer provide financial advice unless directly regulated by the FSA.

Sifa has also appointed a deputy managing director, Leslie Sharpe, and a membership and compliance director, Ian Cockerill, to Solicitors Financial Centres.

In January, it will launch its Fincenta software, developed with The Exchange, to enable the centres to provide a computer-based compliance service for IFAs based on the FSA&#39s new rulebook.

Sifa managing director Ian Muirhead says: “About 97 per cent of firms will not be authorised by the FSA and it will put their mind at rest to refer clients to another professional.”

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