UK-based discretionary investment manager RC Brown has introduced a network which aims to help IFAs seeking a cheaper, technology-led and more structured way of developing operations.
The network targets advisers who intend to remain independent, and also those looking to eventually divest or acquire businesses.
RC Brown CEO Alan Beaney said: “We have deliberately created an entity where advisers will all use the same tech-led systems and have brought in carefully selected expertise rather than reinvent the wheel, so everyone benefits from consistency and economies of scale.
“This also means that firms can network with others within the group knowing that many of the hurdles of transferring business have been removed, with the added advantage that clients are familiar with systems.”
The network offers multiple options for advisers, with one enabling advisers to become an appointed representative (AR) of the network.
These ARs will remain completely independent with access to back office CRM and compliance services, among others.
Becoming an AR will require 10% of turnover along with 80 basis points for DFM services including platform costs. They will also require a minimum of £110,000 annual turnover and AUM of £15m.
The second option offers a white labelling only service, where advisers can trade as RC Brown subsidiaries.
This option includes a set up charge of £5,000, and 80 basis points for DFM and platform costs.
Beaney further said: “We are offering a portfolio of options to cater for advisers across the spectrum but anticipate that these services should particularly suit newer or smaller IFAs as we offer a safe environment with additional structure and support where all the systems are in one place.”