Bristol-based advice firm Sovereign IFA is buying up the business of small IFAs who are looking to exit the industry as the RDR comes into full effect.
The company is reaching out to advisers and proposing to buy out their businesses. Vendor IFAs are offered the option to work with Sovereign in an advocacy role to help transition their former clients. "We are offering care for advisers‘ clients. Most IFAs, contrary to what the FSA thinks, do care about their clients having built relationships with them over many years," says James Marchant, IFA at Sovereign. "In many cases they do not want to sell to the person offering the largest cheque, but to a company who cares and will look after their clients in the future." He says Sove...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
