ConsIFA - the IFA acquisitions and support firm launched only last year - says it will now push forw...
ConsIFA - the IFA acquisitions and support firm launched only last year - says it will now push forward with plans to buy up IFA firms as well as offer training on everything from building business lead partnerships to taking clients to court.
A final piece of the jigsaw has now been added to the team at ConsIFA in the form of John Smith, former group finance and IT director at Bradford & Bingley and now finance director, whose main role will be to oversee the acquisition and integration of IFA firms.
Although ConsIFA is still relatively unknown, the company hopes to grow quickly, says Ian Hartnell, now managing director of ConsIFA and former head of the corporate benefits division at Smith & Williamson, as its intention is to acquire IFA firms and their teams, rather than set them up from scratch.
Given the current depolarizing climate, ConsIFA now hopes to attract three types of company to join its group - existing business looking for new business links and admin support; maturing businesses whose owners would like to retire; and younger IFAs who want access to an established client base- who might feel they will not be able to operate on their own once polarisation changes, by offering cash injections to the owner as well as shares in the new group.
Company officials also say the new firm is attempting to be different to anything else already open to advisers, as its main aim is to provide members with training schemes which help run businesses better and tips on what to do in tricky situations, and who to talk to, such as being sued by a client, for example.
Rather than directing all advisers to operate in the same manner from one central point, ConsIFA says it is also establishing regional centres all over the country from which match the local environment and culture, attracting like-minded advisers to share information, swap business leads and handle compliance and administration.
Some centralized services are being set up, however, including a call centre and website which will feed out new business leads to IFAs and help clients with simple enquiries.
Development of the company is still at an early stage, says Hartnell, but many IFAs have already approached its chief executive Colin Studd, who co-founded John Charcol Ltd, about selling their firms to ConsIFA and joining the new IFA group.
A brochureware website should also be ready for launch in a few weeks, according to Hartnell.
for more details, contact ConsIFA on 020 7808 7125.
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