National IFA 2Plan is set to benefit from its rivals moving to restricted propositions as advisers are holding on to the IFA label and looking for a new home, chief executive Chris Smallwood has said.
2Plan has already been contacted by a number of Sesame advisers who are looking to stay independent but are not ready to go directly authorised, Smallwood (pictured) said. He said 2Plan is now considering whether it could offer financial help, such as loans, to those firms that want to join the national, as they miss out on the "special arrangements" that were devised for firms that stay within the Sesame Bankhall Group. Network Sesame announced it was going restricted in January because it wanted to distance itself from non-mainstream investment products. The firm gave its adviser...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
