IFA firm Positive Solutions is extending its adviser incentive schemes in a bid to grow the firm further.
The company has announced it will now deliver 3,000 points to its IFA partners if they bring in £50,000 worth of fees and commission in the 12 months to September this year.
Positive says 1,000 points will be the equivalent to £25,000 to each firm if Positive has reached a value of £600m by 2010.
The incentive is part of two wider schemes introduced in September last year - The Partnership scheme and the Relax: practice buyout scheme - and follows on from Positive’s original Profitshare programme launched in 2004.
The Partnership Scheme will pay out a pot of at least £80m to be shared among its partners if Positive has a value of £600m or more by 2010.
The Relax programme gives retiring advisers an option to take a lump sum equivalent to four times their recurring income.
The schemes initially rewarded existing partners who meet business figures of £25,000 in fees and commission with 1,000 points, and those who recruited a new partner with 3,000 points.
Neil Johnson, chief executive of Positive Solutions, says: “The Partnership Scheme has been a huge success during its initial period.
“We are keen to harness and build that momentum so have spend months working to create the optimum structure, with a balance of value points available for both production and recruitment and a clear path to realizing value in the scheme.
“We have put into place incentive schemes that will allow our partners to reap the rewards of their own efforts to grow the value of the business.”
Positive Solution’s "Prophitshare" and "B share" schemes are said to have paid out millions of pounds to partners since their inception in 2004.
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