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Tenet to launch restricted arm in early 2018

Tenet to launch restricted arm in early 2018

Adviser network Tenet will launch its restricted arm early this year after successful trials with a number of advice firms.

The independent network launched a pilot in late 2016, initially with two firms but then expanding this to more.

Helen Ball, operations director for Tenet, said: "We are still developing our restricted proposition which advisers can adopt rather than developing their own and it will be made available to our members early this year, following a pilot phase."

Tenet began trialing a restricted arm after helping about 20 firms develop their own restricted businesses and seeing demand among members for a common proposition.

At the time Tenet said it might allow firms to reduce their overheads, have a lower risk profile and a more efficient sales process, but it confirmed it remained committed to independent advice, as well as restricted.

When the trial was launched the proposition covered investments, pensions, protection, estate planning and mortgages but details of what it will contain when it launches fully have not been released.

Ms Ball also confirmed that Tenet's platform had been launched, after teaming up with Hubwise to develop one.

She said: "We continue to allow our members to select the platform that is best for their customer and our platform just adds to that choice. To date some of our members have expressed interest."

According to Financial Adviser's recently publish rankings of financial advice firms, Tenet is the fourth largest in the UK in terms of the number of CF30 individuals it has and the sixth in terms of gross sales.