Mutually beneficial joint ventures (JVs) between financial advice firms and professional services businesses are nothing new. But the cluster of recent deals suggests the model is evolving, with advisers and their professional-services partners looking beyond traditional referral arrangements towards more formal, jointly branded tie-ups.
The trend is particularly visible among accountancy firms and has been for some time, although law firms are beginning to follow. Recent advice joint venture activity Perspective Financial Group is at the centre of the recent activity. Its 50/50 JV with DJH, announced in January, gives the accountancy group's clients access to financial advice alongside its existing inheritance tax, trusts, wills and probate services. Perspective has also partnered with TaxAssist to create TaxAssist Plus Financial Planning, providing access to a nationwide financial planning network through existing...
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