Managing director of adviser support service provider Threesixty Phil Young is stepping down from the head of business.
Young joined Threesixty in 2003 from Bankhall, and took over as managing director six years ago, just after Standard Life acquired the firm.
During his time at Threesixty, Young has been vocal on issues such as advisers taking margins from platforms under distribution deals, the risks of unregulated investments and ensuring compliance on complex areas of advice like DB transfers.
Last October, Threesixty signed a deal with former FCA technical specialist Rory Percival to train and develop its in house compliance team.
Earlier this year, Young threw his weight behind the launch of a new mortgage club, The DA Alliance.
It is understood that Young is considering setting up his own adviser consultancy business.
He will continue as a strategy adviser with Threesixty from 1 September, when compliance director Russell Facer will step into the managing director role.
Young says: “Threesixty is in better shape than ever and I’m proud of what we’ve achieved over the last 14 years. It is the right time for me to take a step back…This new role allows me to keep working with them and the team we have built.
“It also gives me the time to have more involvement in a different type of consultancy business focussed on strategic business support, building on the non-exec, succession and mergers and acquisitions work I’ve been involved in lately.”
Facer says: “I am delighted to be taking on the Threesixty managing director role and look forward to developing on the successes that we have achieved with our clients over the past 14 years.
“We have a fantastic team and client base, that is well positioned for the industry’s exciting and sometimes challenging, time ahead. It is good to be retaining Phil’s strategic insight and maintaining our long established relationship.”