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Think before you sign on dotted line

Some sterling advice for IFAs has come from the FSA. The regulator has expressed concerns about advisers rushing into joining networks.

Always glad to endorse the FSA when it gets it right, Money Marketing could not agree more. In fact, we will take it further and warn advisers to be very careful what they join, whether they are a support services outfit, a network, a franchise or for that matter a big bank. Where the contract involves anything more than what you are paid, holiday entitlement and free gym membership, can we suggest that you get a lawyer to check the terms.

This is not damning networks or other organisations, some of which must become successful distribution businesses in future and offer valuable services to members and employees. But it is a warning to advisers to be sure they know what they are joining.

We expect most advisers to have heeded this advice already and some may even think that Money Marketing risks patronising its readers but we come across too many advisers who seem to be ruing the day they joined this or that organisation. So for those who may not be so wise or have not yet learned the hard way, we add our voice to the FSA&#39s and say be careful what you sign.

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