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Trade body targets mid-sized advice firms with fee cut

GHeath05

Libertatem has announced changes to its fee structure that will cut bills for member firms with more than three advisers.

The trade body, which was launched by Garry Heath last Summer, will now annually charge firms £120 for each adviser after their first two.

Previously, firms with up to five advisers were charged £240 for each, with the price then falling to £120 for any further advisers.

The change means that a firm with three advisers will now pay £600 per year, instead of £720 under the old regime, while a firm with 10 advisers will pay £1,440, instead of £1,800.

Heath says: “When we first launched we wanted to have a structure that was easy to understand.

“But having analysed the type of firms we have attracted, it is clear we attract smaller firms and larger ones, but we are not getting our market share of those in the middle.

“This change should make us more affordable to the mid-sized adviser firms. We were asked to drop the costs and we have listened. We are now very competitive.”

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Comments

There are 3 comments at the moment, we would love to hear your opinion too.

  1. Is ‘competitive’ the right word?

  2. Heard very little of this Trade body since its formation and even less of its influence and victories for IFA’s

  3. Im joining Garry is a great industry man !

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