Wealth management consultancy N-Able has launched a buyout package for IFAs in partnership with wrap provider Ample and Dutch manager of manager firm Insinger de Beaufort.
The service, revealed at the Sway investment conference in Monaco last week, is part of a new investment outsourcing proposition from the three partner companies which is presently running as a “proof of concept” model and will be fully operational in early 2005.
The service allows IFAs to put all their business data into one system that includes data migration, back-office support and asset management.
Ample group sales director Alan Easter says the system will help IFAs migrate their investment business into a separate wealth management company which can be set up for advisers wanting to leave the industry and realise all or part of their capital value of their business.
N-Able chief executive Marc Ainscough says outsourcing and migrating an existing book of assets to the new system will let IFAs streamline governance and improve their profitability and capital value as well as provide more sales time to drive up business volume from existing and new clients.
Easter says: “This business model will put the capital value back into an IFA business, where most are only valued at around 1.5 per cent of their annual book.
“When people are looking to buy an IFA, they look for skill set and assets. We will help IFAs greatly with both of these needs.”
Ainscough says: “Our objective is to help IFAs build a more robust and profitable business and by outsourcing operations and investment responsibilities, build a more sustainable model. This model will focus on winning new clients and better management of retained clients.”
Sway reports, p14