Millfield unveils multi-tie intentions

Millfield has unveiled plans to launch its multi-tie proposition in Q1/Q2 of 2005.

The multi-tie option will be available to all its advisers and will run concurrently with the group’s existing core IFA option.

Significantly, multi-tie advisers will be able to be dual authorised, so that they can go off panel if whole of market advice is more appropriate for their clients.

Under the proposition, advisers can choose to offer clients protection, investment and pensions products from a panel of quality product providers or from the whole of market.

This allows advisers to operate outside of the multi-tie panel if their clients needs are more complex.

With the launch of the multi-tie proposition, Millfield advisers can be IFAs, multi-tie advisers, or be dual authorised.

This range of options means that Millfield advisers will be able to choose whatever advisory status best suits them in the depolarised world subject to competency and authorisation.

Paul Tebbutt, chief executive at Millfield, says: “We are developing this multi-tie proposition to ensure our advisers are empowered with choice in the depolarised world.

“We have listened closely to what our advisers have been saying to us, both in terms of servicing their clients and maximising the success of their business.

“The result of this consultation is a multi-tie offering which we believe will be immensely attractive to our advisers.

“Advisers will also have the flexibility to decide how they want to do business, either offering a fully independent advice service, or products from six of the UK’s most recognised brands or a combination of the two.”