Profile of Firms We Work With
Whilst we would like to believe we could add value to most adviser businesses our experience tells us that firms with certain characteristics benefit the most.
- Business Owners or Practices with 1 to 10 Advisers
By dealing with Business Owners or Practices with 1 to 10 advisers, we are more likely to be dealing with the key decision makers in the business. This provides a greater degree of comfort that the business has bought-into the Asset Transformation Service and will be dedicated to completing the asset migration process and making the transition.
- Sizeable Legacy Books Transacted on Indemnity Commission Basis
The more legacy assets a firm has that are not generating a recurring income, the more attractive the Asset Transformation Service will be to them.
- Pension and Investment Focus
Firms with portfolios with a high proportion of products that can be easily and readily compared to products on the Wrap platform are attractive to avoid complexity and potential tax planning issues.
- Client Portfolio Size £100k plus
The higher the average client portfolio size, the more compelling the rationale for reorganising a client’s affairs into institutional quality portfolios hosted and serviced via a wrap platform becomes.
- Passive Investment Philosophy
The Investment Committee's philosophy involves using asset class portfolios populated passively. We are 'planner led' and so we will integrate with the investment solutions that our wider usership demands including 'active' and 'discretionary' alternatives. However our experience as fee based wealth managers provides additional benefits to those who share our investment philosophy.
- Profitable Businesses
We are reluctant to engage with unprofitable businesses because of financial and reputation risk.
- Principals/Advisers Looking to Exit
The Asset Transformation Service is likely to appeal to firms where the principals are looking to exit the industry or retire as it will provide a means of improving their sale value. This is as a result of the increased recurring income but also the robust management of their clients' portfolio's going forwards.
- Good Salespeople with Integrity and Good Regulatory Track Record
Veracity will want to associate itself with such individuals as they are likely to prove more profitable to work with (ie. achieving higher conversion rates) and are more likely to preserve Veracity’s professional reputation – both in the market place and with the regulator.