A transition planning company called FP Advance has been launched in the UK by Brett Davidson.
The company will provide advice and training to advisers, networks, nationals and wrap or product providers about advisers wishing to move from transaction-based commission business to fee-based advice.
Davidson states: “The appetite from adviser firms wanting to know how to make the transition to a more cost-effective business is enormous. Obviously, with increasing cost pressures and lots of regulatory change, many firms have had a rocky period with some believing that a move to fee-based advice will be another layer of complexity.”
He claims his transition planning method had already enabled many firms to look at a new way of working, with increased profitability, better client servicing and reduced administrative burden.
Nick Cann, chief executive of the Institute of Financial Planning, adds: “In the time that Brett has been in the UK, he had made a huge impact on the financial services market place at a time when more and more firms need support to transition to a fee-based financial planning business.”
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