Bob Jones, who is in the process of setting up his practice, said he was considering the option of creating an appointed representative firm and an advice business.
Mr Jones said: “I have worked in bancassurance and other tied positions in a previous life and therefore have many ‘mid-market’ clients who I would like to continue to serve through a whole of market restricted offering. I can see this part of the business being the ‘bread and butter’ while the high net-worth segment gathers pace.
“I am wondering if it would be a good idea to create two separate brands to cope with the two different client banks and service offerings, perhaps one being the appointed representative of my other advice business.”
Al Rush, director of Rutland-based Echelon Wealthcare, said it was a good idea to divide brands because “one size doesn’t fit all”.
He said: “I have two brands – one for a niche and one for a more general market. Shortly I hope to roll out a simpler service for each market but, as already mentioned, I don’t see any merit in establishing one as an appointed representative.”