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News
 20/07/2010
Bankhall offers advisers business insight at forums
Bankhall is going on the road with its latest round of face-to-face business forums to give IFAs a valuable insight into the steps to successfully building value in their firm in the new RDR world.
The business forums kick off in Dunblane on 13 July and finish at Bracknell on the 30 July, taking in 11 venues along the way.
The practical events will include interactive workshops run by industry experts from Bankhall, Zurich, Partnership and Friends Provident. The topics covered include:
- Factors that contribute to the value of an IFA business, such as segmenting clients and differentiating service offerings;
- Practical methods of setting fee levels to ensure IFAs deliver a service to clients’ that is also profitable for their firm; and
- Steps to consider when developing an exit strategy.
Stephen Young, Chief Operating Officer at Sesame Bankhall Group, says: “Bankhall’s business forums offer an ideal solution for IFA business owners who are looking to tackle key RDR issues, such as moving to fees. Delegates will hear first hand from industry experts on the practical steps to ensure they are fit and ready for the onset of the RDR. This will help IFA businesses to continue delivering a first class service to their clients whilst also building value in their firm. The personal and interactive nature of these forums means they are always well-received by advisers and more events are being added this year to cater for increased demand.”
11/06/2010
You may have read in the trade media about the FSA's welcome clarification over the impact of the Retail Distribution Review (RDR) on trail commission payments.
The FSA's final RDR rules published in March raised real concerns that from 2013 onwards, trail commission would not be transferable in the event that an advisory business was sold or changed its regulatory status.
As you will be well aware, this would have taken significant value out of advisory businesses that had been built up over many years of hard work.
Consequently, as a key participant on the Aifa Council, we have been working closely with our trade body to lobby the FSA for a fair and sensible outcome. We are therefore pleased that following a statement issued by FSA and published in Money Marketing, the regulator has now reviewed and clarified its position. The FSA has said that if, for example, an advisory business is sold, its new RDR rules will not prevent entitlements to trail commission from being transferred to the new firm.
Ivan Martin Executive Chairman, Sesame Bankhall Group and Deputy Chairman of the Aifa Council 10/05/2010
Stephen Young, Chief Operating Officer for Sesame Bankhall Group, said: “Regardless of the political and regulatory environment, we believe that higher professional standards are a fact of life and we do not expect any change in the direction of travel. We are also reaching a pivotal point for advisers where they need to engage in this process or risk running out of time.
“To achieve the RDR qualification benchmark advisers first need to undertake a gap analysis to understand which of their existing qualifications count towards QCF Level 4 status. From there they can then plot the examination route that is right for them. There are no easy options, but choosing the examination that matches their preferred learning style can significantly increase their chances of passing first time. "
“Maximising the time available is also crucial given the demands on advisers to study for the future whilst continuing to look after their day to day client responsibilities – along with their home life. That is why we are committed to delivering practical solutions, and this new interactive tool is one way of helping to focus advisers on where they are now, where they need to get to and how they get there.”
Stephen Young, Chief Operating Officer for Sesame Bankhall Group. 04/05/2010
Stephen Young, Chief Operating Officer at Sesame Bankhall Group said: “We have in-depth experience of helping members through the sale and acquisition process and we know how daunting it can be. With 1,500 member firms, Bankhall is ideally placed to facilitate this journey by bringing advisers together in an environment where expert help and practical guidance is on hand to support their future plans."
“In the current environment it is understandable that some advisers are planning their exit route, but this in turn creates a wealth of opportunities for business owners who are on the acquisition trail. For advisers looking to sell their businesses, ensuring that an exit strategy has all the vital components, such as aligning a business to the needs of the future IFA industry, is extremely important and IFA Exchange will support advisers in doing just that.”
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Stephen Young, Chief Operating Officer at Sesame Bankhall Group
04/05/2010
Stephen Young, Chief Operating Officer for Sesame Bankhall Group, said: “Demand for this service has steadily grown as people have become more aware of the greater flexibility around retirement planning and the benefit of accessing expert professional advice. This increased interest has stimulated more advisers to use our services, and we expect demand to grow further in light of the RDR as advisers review and define their future client proposition."
“For many firms who do not usually advise on these more complex areas of business, working with a reputable specialist business partner enables them to enhance their service to clients. By introducing business to Gateway, advisers are avoiding any risk and liability associated with writing this business themselves, whilst providing their clients with specialist advice and opening up additional income streams for the future.”
Commenting on Partnership’s investment in the new firm, Andrew Megson, Managing Director of Retirement, said: “We are delighted to be working on this exciting new venture and we believe that our insight and expertise in this specialist business area will help Gateway Specialist Advice Services to become a successful company that delivers a valuable service to advisers and their clients. The ‘at retirement’ market is set to boom over the next decade as the ‘baby boomers’ generation approach retirement, many of whom have built up significant wealth in property and pensions. These are precisely the type of people who need specialist financial advice and Gateway will be there to help them.”
Read More ...
Stephen Young, Chief Operating Officer at Sesame Bankhall Group
Andrew Megson, Managing Director of Retirement
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