National IFA brand Consifa is targeting IFAs concerned about their future under the new regulatory regime.
Consifa intends to provide a framework for IFAs to continue to service clients' needs while removing compliance, regulatory and administration burdens. It will establish regional centres throughout the UK, from where successful IFA firms will be targeted to provide additional revenue, resources and service lines.
Charcol co-founder Colin Studd, currently an executive director in Chartway Financial Management and Ian Hartnell, former partner at accountants and financial adviser firm Smith & Williamson, are heading the IFA brand launch as executive vice chairman and managing director respectively.
Consifa will provide a centralised service for intermediaries and consumers with contact and enquiries through call centres and internet websites, with a freephone number available for Consifa IFAs and a white-labelling proposition is also planned for advisers looking to retain own-brand services.
Hartnell told Mortgage Strategy: “We will be looking to offer IFAs full national branding if they want it but if their proposition is a strong one we will also offer localised branding.
“We are primarily interested in IFAs with high turnovers, especially those who have been in the industry for 20 to 30 years, who cross-referring of different type of business. We are about training quality and not cutting corners – that is the ethos of our offering.”
The company, which is funded by a mixture of the directors' personal investment and private equity from Switzerland, will be regulated by the FSA and registered with the Office of Fair Trading, MCCB, the GISC and the Data Protection Register.