A new IFA network, called Private Client Consultancy, has launched in Europe with backing from British financial advisory firm deVere Group.
The new network will utilise deVere Spain’s licence but will remain a separate entity. Initially, it will operate throughout Europe.
Andrew Oliver will be in charge of the new entity.
Oliver is a senior area manager with deVere Spain. His financial services career spans 25 years.
He called the new entity a “b2b service provider for IFAs”.
It will handle a range of aspects including customer relationship management, services through tie-ups with major financial groups, compliance, marketing as well as public relations, he stated.
Oliver said: “This is the network for those IFAs and brokers who have become disenfranchised with their network provider or those who want to set up by themselves but are struggling with licence regulatory demands.”
According to Oliver, the will enable smaller IFAs to reduce the burden amid rising regulatory requirements and costs.
He added: “I believe all stakeholders can benefit from the network: more clients and more smaller IFAs get the protection of being backed by deVere, an established, well-resourced and hugely successful financial brand; IFAs get the freedom to run their business with the back office essentials taken care of; and regulators can deal with a fewer number of organisations, meaning processes will be more efficient and effective.”