Case Study 1
Changing Network
A former bank employee with 12 years advising experience. Left an employed position as they wanted to build something for their future.
Joined a mortgage & Protection network as an AR but quickly realised that it was not the right place for them or their business. They felt misled by the recruiter as valuable details were "omitted" from their discussions. Wasn’t made aware the proposition was a restricted offering for both lenders and protection providers.
A former bank employee with 12 years advising experience. Left an employed position as they wanted to build something for their future.
Joined a mortgage & Protection network as an AR but quickly realised that it was not the right place for them or their business. They felt misled by the recruiter as valuable details were "omitted" from their discussions. Wasn’t made aware the proposition was a restricted offering for both lenders and protection providers.
The Requirements
Whole of market for both lenders and protection
providers Standard protection premiums (not loaded).
A choice of both indemnity and non-indemnity commission terms.
Consultative compliance regime.
Sensible social media marketing policy.
Strong back-office system that fosters a smooth
adviser and client journey.
Support to grow business, with help to take on
advisers.
The Solution
A network with whole of market lending panel and broad protection panel at standard rates.
Choice of commission terms (policy by policy).
Flexible social media policy with pre-authorised
templates for immediate posting.
A back-office system with intuitive journey and
client portal.
Support and encouragement to grow business (at own pace).
Adviser stated;
“I wish I would have spoken to Network Consulting when I left the bank, I made a
terrible mistake joining the first network”.
Case Study 2
DA to AR
Multi Adviser DA firm 8 advisers – offering holistic services (wealth, pensions, mortgages, protection etc.)
The business principal wanted to move away from Directly Authorised due the level of work and responsibility as it took too time and focus away from dealing clients.
By joining a network they were fearful of costs and losing true independence.
Multi Adviser DA firm 8 advisers – offering holistic services (wealth, pensions, mortgages, protection etc.)
The business principal wanted to move away from Directly Authorised due the level of work and responsibility as it took too time and focus away from dealing clients.
By joining a network they were fearful of costs and losing true independence.
The Requirements
A network to take away the labour intensive work and restrictive compliance responsibilities, particularly since the implementation of Consumer Duty.
Autonomy to allow them to structure their business as they wished and would help with future business succession.
True independence (Whole of Market)
Cost effective solution
The Solution
Independent network with whole of market offerings in all product areas.
PII, FCA levies, CRM/Backoffice system, compliance oversight, file checking and research tools all included the network charging.
Support from the network to mitigate business and income interruption during transition.
Firm delighted with the proposition, support, service, removal of bureaucracy and cost effectiveness of the solution.
Case Study 3
New start-up
RI to AR
A Self-employed mortgage adviser (RI) in a large AR firm of a restricted model network.
The adviser wanted to have their own firm and build something for their own future.
Wanted to move into investment & pension advice.
Felt held back by overly restrictive compliance requirements, particularly for social media promotion with current network.
A Self-employed mortgage adviser (RI) in a large AR firm of a restricted model network.
The adviser wanted to have their own firm and build something for their own future.
Wanted to move into investment & pension advice.
Felt held back by overly restrictive compliance requirements, particularly for social media promotion with current network.
The Requirements
Whole of market lender offering and broad
protection panel with no loaded premiums.
An ethical, client centric and supportive network that will foster growth. Help to grow introduced business sources.
Ability and assistance to move in to wealth advice.
Sensible approach to social media marketing.
Availability of financial assistance for early months in transitioning.
The Solution
Adviser set up own AR business with help from the network.
A whole of market holistic network proposition (mortgages, protection (non-loaded), investment, pensions etc.)
Guidance and support to grow own business with financial support offered in early months if needed.
Ability to be mentored to CAS status in investment and pensions available.
