Independent Financial Advisors - IFA Bolton, UK

Key Objectives

The purpose of the joint venture is to offer a superior level of Financial Services to clients. This provides a comfort factor that you have confidence in the ability of the Financial Adviser you are dealing with. Independent Financial Advisor Limited was the first North West business to achieve the highest professional standard – The Chartered Financial Planning Status. Of the 5,400 directly regulated IFA businesses, only 127 hold the chartered status.

The venture will be jointly owned by Independent Financial Advisor Limited (50%) and new solicitors (50%) and will be set up as an LLP.

We have legal agreements from our solicitors to formalise the agreement. This agreement will build a guaranteed buy back for the business; this will be based on fund based investments which have been in the joint venture for 5 years prior to the sale as follows:

If the business is sold, then the LLP will receive proportionate payments, this will be discussed in more detail prior to the joint venture being formalised.

I would like to target a minimum of £300,000 turnover within the 1^st year of business. Your time should be charged at the same rate; therefore we need to agree what time and premium is acceptable for both parties. We would then charge administrators time which should also be agreed prior to the joint venture. Each client will sign a fee agreement and all client fees will have a summary of time allocated to each case.