View more on these topics

Thinc targets advisers with retirement and exit deal

The Thinc Group is setting up an annuity service that will enable it to offer advisers a retirement plan and exit strategy.

Thinc is bringing in contracts in the New Year that will see advisers get 50 per cent of all trail commission on life, pension and investment business and when they retire, it will pay out up to 60 per cent of the income for the longer of either the life of the policy or the life of the adviser.

The adviser will spend his final year handing over their business to Thinc, which will then bring in new advisers, avoiding client detriment.

Group chief executive Simon Chamberlain says once an adviser is no longer regulated, they cannot draw income from their client bank and if they are unable to sell their business, they will lose out.

Chamberlain says by comparison, a typical practice buyout scheme offering four times the annual turnover would amount to only £200,000 on a practice of £50,000 a year.

Chamberlain says: “If an adviser is transacting £100,000 a month on new investment business, over 10 years, they would have invested around £12m. With approximately 5 per cent annual fund growth and 0.5 per cent trail, this would build up an annuity of £50,000 for life. This compares with some buyout schemes that buy them out on the cheap.”

See Thinc’s long-term plan


Vintage year for wine investment

Fine wine investment group Premier Cru has seen business from advisers increase fivefold since A-Day and intermediary sales now make up half of its inflows.Much of the interest has come from Sipp investors despite the Treasury removing tax relief on wine in pensions.Sales director Gavin Saffer says he expects adviser-based inflows to increase as they […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm