FAQ
FAQ - Frequently Asked Questions1. Are you a network?
2. Will you buy my business and/or my client bank?
3. What if Advisers United stops trading or loses its FSA permissions?
4. What happens after 2 years?
5. Why do you check the completed fact find and other documents with clients?
6. When will I get paid?
7. How much will I get paid?
8. Will you accept my factfind rather than your own?
9. My hourly rate is higher than yours, will you charge more?
10. My clients are used to a % commission charge rather than set fees, will work on %?
11. Will you cross-sell?
1. Are you a network?
No. We do not operate as a network or offer any network facilities.
2. Will you buy my business and/or my client bank?
No. We want to work with you and your clients or for you to refer your clients to us without any involvement. We are not looking to buy your business or your client bank. Likewise, as part of our agreement we will not cross-sell your clients with services that you offer
3. What if Advisers United stops trading or loses its FSA permissions?
If this happens, all clients you referred within the previous 2 years are ringfenced and you have the right to take your clients elsewhere.
4. What happens after 2 years?
If your client was referred to us over 2 years ago, they become clients of Advisers United and are no longer ringfenced. You will still be paid introducer fees and commissions. The client of course has every right to terminate our services and switch to another adviser at any time.
5. Why do you check the completed fact find and other documents with clients?
As we give the advice to clients we have a duty to know them and what they are looking for from us. We take our obligations for best advice seriously, hence checking everything with the client. It also gives the client contact with the people who will be giving them advice.
6. When will I get paid?
Please refer to the Introducer Agreement in the Library Documents section of info & contact on Advisers United. Normally within 7 days but quarterly for renewal commissions and fees.
7. How much will I get paid?
Please refer to the Commissions Rates pages. Rates vary between 20% and 50%.
8. Will you accept my factfind rather than your own?
As we are liable for the advice given, our advice/administration process means we must use our own factfind only and verify the content with the client. We are happy for you to send your factfind and for us to copy information across. If all of the information that we need on our facfind is included in your factfind, we will maintain the usual commission/fee share. Of course, if much information is missing, we may need to reduce the commissions/fee share.
9. My hourly rate is higher than yours, will you charge more?
Yes. Our hourly rates are based upon remote advice services and direct dealing. Given the increased costs of acquisition of business in dealing with you and indeed clients dealing with you on a face to face advice service - we are happy to quote higher rates to reflect additional costs of you servicing them.
10. My clients are used to a % commission charge rather than set fees, will you work on a %?
Yes, of course. In the interests of TCF, if clients are already used to % rates for advice services, then we are happy to work on this basis to reflect, a. what they are used to and b. to cover the increased costs of acquisition of business in dealing with you and indeed clients dealing with you on a face to face advice service. We also will still offer a fixed fee option for comparison.
11. Will you cross-sell?
No we have a no cross-sell guarantee. We of course have a duty to give good advice. If we believe your client needs additional services, these will either be referred back to you (if you are authorised to arrange the same) or we will advise and share remuneration with you as normal.
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