Key accounts who generated over £200,000 in commission for Personal Touch Financial Services last year are set to receive an average windfall of £60,000 each in shares of the network.
According to a statement issued this morning, over 50 key accounts with the PTFS intermediary network will take a cut of the circa £3m share windfall, in recognition of the business they have generated over the year.
This is said to be the first of four tranches of share giveaways over the next four years, and are thought to be worth in the region of £17m, but based on growth and projection forecasts will be worth around £50m within three years suggest PTFS officials.
Martin Wilson, chairman of PTFS, says the shares represent true value in the company, and reflect the promise made by executives to share the success of the network with members.
“It has always been our ambition to share the company with our Members and staff. It’s just another way of adding value to our Members who add value to our company. We believe we are a reasonably well-run business, with no debt burden and are financially strong. The shares we are allocating to Members are real shares (transparent) and the value comes from real trading facts," says Wilson.
Personal Touch FS now has around 800 ARs on its books.IFAonline
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