Positive Solutions is confident partners who resigned last week over an eleventh-hour directive that will see exiting advisers charged a leavers' fee will stay with the company.
At least 18 partners submitted provisional resignations on Thursday hours after being made aware of the rule, which came into effect from midnight that evening. The directive stated advisers leaving the Aegon-owned national IFA after 1 April would be invoiced for their share of the company's regulatory costs up to 31 March the following year. Partners were told the fee would include, but may not be limited to, their share of FSA and FSCS fees as well as professional indemnity insurance costs, all of which Positive Solutions incurs in advance. It said the directive protected those a...
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
