The multi-tie advisers in Thinc’s national protection, investment and pension business will be put on a conversion programme to transfer across to whole of market.
The IFA says the move will not affect its multi-tie arrangements for network members or existing single-tie arrangements in either the national or network arms of the business.
Thinc is rebranding as Bluefin from January with the integration of SBJ Benefit Consultants and PIFC, the independent pension and employee benefits consultancy.
The tie-up is bringing together the general insurance broker companies of Venture Preference under one umb- rella brand to offer financial advice, consultancy and insurance broking.
Thinc parent company Advisory Services chief executive John Simmonds will become chief executive of Bluefin Advisory Services, with Venture Preference head Stuart Reid assuming the role of chief executive for Bluefin Insurance.
Simmonds says: “The expansion of our whole-of-market offering is positive news for our clients and we will work closely with our advisers across the group to ensure a smooth transition period.”
Thinc group proposition director Jon Everill says: “We constantly review our propositions to clients and advisers, in that order, to ensure that they remain competitive and are what people want.
“We will be reviewing our network and single-tie propositions next year to make sure they work for us in the short to medium term.
“Our business model is driving us in this direction but I am sure there is mileage for multi-tie providers and distributors to be in the market for as long as it is there. I am not going to stand up and say this is the demise of the multi-tie because I do not think it is.”