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Specialist help for IFAs

Finance marketing specialists The Insurance Marketing Department is to offer a service to help IFAs wishing to switch their business from commission to fee based.

The IMD says the move comes as a result of the 1 per cent maximum charge the Government is set to impose on IFA&#39s commission.

The service will include a review of the IFA&#39s current portfolio structure, suggestions on a fee structure, design and drafting of the communication materials needed.

The IMD says the service will mainly be available through the internet but personal meetings can be arranged.

IMD director Stephen Phillips says: “There is plenty of scope for IFAs to identify new ways of generating income through careful targeting of both new prospects and existing clients.”

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