Have you found recently how many direct offers from larger IFAs there are to "come and join them" so that they can take over your business? These marketing campaigns are becoming rather irritating to say the least!
I am vary aware that many have received large sums from insurance companies and some are on the acquisition trail to make us an IFA/stockbroker. If I wanted to become a stockbroker I would check that it could really add value and then I would have approached them, surely they know that?
Have we not seen this before in both our industry and in many others? Is there something wrong with 'small is beautiful'? I cannot see that these offers work myself.
I understand that the carrot dangled at the outset may be very attractive, but surely the stick that will come in various guises will be bashing you and your clients far after the money received has run out. I would call that poor business planning in the long run, but good business planning for them if you take the carrot!
There can only be one way for your company profits after taking the carrot, so don't anticipate big dividends thereafter.
And finally, and most importantly, if you have developed your own brand, what will your clients really think of you selling out? Luckily, I will never find out.IFAonline
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