They say honesty is the best policy. But not every firm gets the memo.
Whether it's promises of clients that don't exist. Promises of support that isn't there. Or OTE figures seemingly plucked out of thin air. It's hard to trust a company when what they've told you at interview doesn't match up with reality.
This business is different. They'll tell you the good stuff. But they'll give you it warts and all.
Clients? They have them. Lots of them. They have a retiring IFA in Cardiff and they need to replace them. The good stuff? There's £150,000 of ongoing fees to inherit, no validation and a 15% production bonus.
The issues? They normally have more time to replace a retiring IFA and do a full handover. Time is pressing on this one. Plus it's a big client book (c300). That said they have two channels (virtual/digital) with low fees that would suit a good proportion of them. You'll need to organise it, but there is light at the end of the tunnel.
Support? You'll have someone on hand to sort valuations and schedule meetings/reviews. And they have someone on hand for all queries relating to their client system. But, you don't have a paraplanner, so that will fall on you.
Income? Well you'll walk in to £22,000 of bonus by joining due to the ongoing fees. And there's 95% client retention when this firm handle a transition from a retiring adviser to a new one (this will be transition 12). You then get 15% on all new business and 15% as you grow ongoing. There's an company bonus and once CAS, a £3,000 car allowance. But, the starting salary for this team is £40,000.
That said think of it like this. Your salary is £40,000 but the production bonus and car allowance means that in effect you're on £60,000 - £65,000. Much healthier.
What this honesty should tell you is that this firm know they're not perfect. But firms that know that go out of their way to get better. They've invested significantly in their compliance/T&C schemes and we know the people here well. They're a great bunch.
Alongside that you'll have a senior manager who is light touch but present. There's a proper induction (expensed). And whilst you'll work remotely you won't feel remote.
HERE'S WHAT YOU'LL NEED:
You'll be a level 4 qualified financial planner (IFA or restricted).
You will need CAS and in the region of 3-5 years+ experience as an adviser. This is due to a) you'll work remotely, b) there's a big book to handle and c) you'll do your own reports.
You will enjoy working in an environment where you are trusted and empowered. You'll be a self-starter. You'll have decent technical knowledge across pensions and investments in particular.
And you'll be in the Cardiff area.
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