Bankhall offers aid in fees move (Financial Adviser 08-02-07)
Bespoke workshops to assist IFAs in fees transitioning
Bankhall has agreed a deal to deliver a series of business transition workshops for its members.
The workshops are an acknowledgement by the adviser network that a large majority of its members will be moving over to a fee-based model within the next three years.
In addition, the group is in discussion as to who will supply its planned wrap offering, with the provider being announced later this month.
The workshops, held in conjunction with specialists in transition planning FP Advance, will offer advice and specialist training to advisers looking to make the transition to a profitable fee-based business model, practical client segmentation strategies, new pricing models and marketing your business successfully.
The workshops will be held on a bespoke basis and based around information supplied by advisers from Bankhall.
Brett Davidson, Chief Executive of FP Advance, said: "We have been working with Bankhall extensively over the past few months to put together a unique series of workshops for their members."
Mr Davidson has worked with the Institute of Financial Planning to help its member firms adapt to legislative changes and movements within the IFA industry. He is also experienced as an Australian certified financial planner, with a focus on high net-worth clients.
Peter Mann, chief executive for Bankhall, said: "We are delighted that Mr Davidson has agreed to work with us. His expertise in this area will ensure a hard-hitting series of workshops focused on important business transition issues."
John Fender, director for West Midlands-based IFA Buryfield Grange, said: "It is a sign of a slow and steady progression towards fees."
Philippa Gee, investments director for Wolverhampton-based IFA Torquil Clark, said: "These workshops are great news. Advisers should be offering both commission and fees and any advice in helping them to adapt is welcomed.
This article was written by Christopher Knox and was first published in the Financial Adviser February 2007
