Advisers have long passed on work to other advisers, but how has the practice changed and how can both parties protect themselves? Nicola Brittain takes a look..
Introducing clients to other advisers may seem a peculiar practice – after all, advisory firms tend to offer similar services to one another and often compete with other local firms for clients. Despite this, the practice occurs regularly and for a number of good reasons. So, what are the benefits of a relationship of this sort, how easy are they to establish and how can advisers avoid problems along the way? Segmenting clients Managing director of MFP Wealth Management Justin King segmented his client base in preparation for the Retail Distribution Review and, consequently, will no...
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