The Stirling House IFA Model
IFA Networks – things of the past?
This page is for Professional Financial Advisers that may be researching IFA jobs and opportunities within a Network or perhaps becoming a Member of Stirling House Independent Financial Advisers, our alternative to IFA Networks.
Whilst we are not an IFA Network, we operate quite similarly to one but have cut out the “middle man” thereby reducing the cost to you, the Professional Financial Adviser. Of course, IFAs have many different service requirements, objectives, plans, aspirations and business models. This results in the inevitable searching amidst the myriad of servicing companies to find the best match that will do the right job for the right cost.
Most servicing companies offer the basic necessities to trade such as FCA Fees, Professional Indemnity Insurance (PII) Cover, a Back Office System and Compliance. Most firms have the same base cost and these are pretty uniform across the industry. Thus, the starting cost to an Adviser of joining one of the numerous IFA Networks is much the same whichever is chosen.
Then the offerings tend to divide into two camps; the first typically offers bolt-on services on an à La Carte basis, the second offers fixed services for a fixed fee. This makes life difficult when an IFA is trying to make a proper comparison between support companies and IFA Networks.
For example; if two IFA Networks appear to offer the same service for the same fee – but to contact them one insists on an email approach whilst the other accepts a simple phone call – which do you prefer?
We suspect we know the answer so have a listed of a few Benefits offered in the Stirling House IFA package so that all those interested make an educated comparison before contemplating cost. We are therefore confident that you will find our alternative to IFA Networks a very appealing proposition.