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By Kevin White | Published May 17, 2012

Positive Solutions returns to profit

Speaking at its 2012 National Partners Forum, held at the Celtic Manor resort in Newport, chief executive Peter Coleman also told more than 600 attendees that Positive Solutions had achieved a return to profit.

He said the firm, which has posted losses over the past three years, has turned a monthly profit every month since August 2011.

Mr Coleman said this had been achieved through using better technology and creating “operational efficiencies”.

Mr Coleman outlined plans to improve the customer service after the retail distribution review, and told delegates: “I want you all to become advocates of Positive Solutions”.

He said some 85 per cent of the Positive Solutions’ near 1000-strong IFA membership is now RDR ready - thanks in part to the training and learning resources offered by the Positive Solutions Learning Academy - although 15 per cent were not ready.

However, he struck a conciliatory note to the 15 per cent who had not acheived RDR compliance by unveiling the Positive Solutions’ professional introductions service.

This will help those 15 per cent to continue to get trail income under the Positive Solutions umbrella and allow them to maintain some contact with clients, but they will not be able to give advice.

He said these people can conduct fact-finds but cannot give advice - they will have to hand over the advisory obligations to an RDR-ready Positive Solutions IFA.

He said: “This 15 per cent can still get an income and, if they decide to do so, they can try to get their level four or look at other opportunities within Positive Solutions, such as becoming a mortgage or protection adviser.

“We want to be a home for everybody after the RDR.”

Mr Coleman also announced that the Aegon Retirement Choices platform charges - 0.2 per cent and 0.6 per cent - will be waived for Positive Solutions’ clients until 1 January 2014.

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