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SIS wants IFAs for franchise deal in solicitors&#39 offices

IFA SIS Group is recruiting advisers to work in franchised financial advice departments which it is aiming to set up in the offices of accountants and solicitors to supplement their core businesses.

The company wants around 30 advisers across the UK to work in branches of The Financial Planning Department, a franchise operation that it hopes professional companies will bolt on to their existing business to offer holistic financial advice. The franchise offers IT support, bespoke back-office systems, professional indemnity cover and training for a flat monthly charge.

Advisers taking the franchise keep around 80 per cent of the commission produced. Companies buying into the scheme will keep around 30 per cent of the adviser&#39s revenue, with 50 per cent going to the adviser and the remainder to SIS.

For professional companies which want to offer clients more specific financial advice, SIS plans to start both investment and mortgage planning departments in the near future, the latter supported by national IFA Charcol.

SIS has a pension planning department ready for installation and says it may consider setting up a franchise specialising in divorce. But not all IFAs will have to be based within a host firm as SIS will allow RIs to work from home.

Managing director Mark Warner says: “This is a unique proposition and we only want to recruit best of the best IFAs. It is not about reaching critical mass – we want good people who are looking to specialise.”

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