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Support group offers IFA services at fixed rates

A new support group for IFAs directly authorised by the PIA is being launched, claiming to have lower charges for its services than traditional networks and rival services firms.

The Support4group has been set up by IFA Philip Horton who runs Charter-house which left the DBS network to become directly regulated in 1998.

Fees are levied on a pay-as-you-go basis and it aims to give IFAs the right to earn maximum income while driving down their costs without having a network impinging on how they run their businesses.

The new group says it avoids the financial overheads faced by rivals such as Bankhall and the networks, which have to pay for compliance staff and large office space, by outsourcing compliance services to the 1st Financial company.

By visiting its website at IFAs can choose from a menu of services offering set fees. For a monthly fee of £250 a firm, regardless of the number of registered individuals, the group will provide core services including nationally negotiated rates of commission, supply of research software, compliance advice, standard compliance forms and training and competence.

It will provide extra services for additional fees including a full compliance audits, a desk based audit, help for IFAs leaving a network and applying to be directly authorised, PI insurance negotiation and a website design service.

Horton says: “I was absolutely fed up with networks when I became directly authorised and have set up this group letting IFAs retain full client ownership and helping them drive down costs.”


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