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Adviser Guides

Guide to picking a network - part 2

Published by FTAdviser | May 30, 2012

You wouldn’t buy a car without lifting the bonnet and taking a good look at the engine - the same applies to selecting a network.

Just because a network looks like a sleek sports car does not mean it isn’t being powered by an engine on its last legs.

FTAdviser’s Guide to picking a network reveals how you can road test these businesses and make sure they are good for a long haul journey.

Answers supplied by Keith Richards, group distribution and development director of Tenet, Philip Martin, proposition and marketing director of Openwork, and Nick Kelly, managing director of Sesame Bankhall Group.

IN THIS GUIDE
  1. Q: How much due diligence shall I do?

    Due diligence should become your mantra and just as any quality support provider will vet your credentials, so should you theirs.

  2. Q: Who will own my clients?

    The variety of answers that FTAdviser received to this question highlights the need for an adviser to raise this subject.

  3. Q: How much will a network’s services cost?

    Prices can vary dramatically depending on the type of business you arrange, the volume of products you sell, etc.

  4. Q: What impact will this have on my PI insurance?

    The main consideration when a firm is a member of a network is that the network is responsible for handling complaints and arranging PI cover for...

  5. Q: How can I make sure my network will stay afloat?

    A genuine long term commitment to the financial services industry can be substantiated by the ability to weather shorter term challenges.

  6. Q: How can I make sure my network remains the right one?

    Relationships are two way and if the network is failing to deliver to the agreed standard, they will often value the feedback.

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