The transfer of my business to AFH has worked well and has provided me with peace of mind, as my clients are well looked after. I would recommend that any IFA, or IFA business owner looking to retire, should talk to AFH. They were the most impressive company that I have found and importantly they had a good understanding of my practice and how it could fit into AFH.
I have worked in Financial Services since I was 21 years old. I worked initially as an insurance agent, then later in direct Sales and as a tied agent. I became an IFA in 1996, until my retirement in December 2012.
I built up a large client bank over the years and a number of client relationships went back 30 years or more. My practice largely serviced my existing client bank, although I acquired a number of new clients when I became Independent.
In 2012 I was 65 years of age and was not happy with the network that I was a member of. I retired because I was eligible for my state pension and my personal pension arrangements. I had no wish to resit the exams that would be required to continue working in 2013 as a consequence of RDR. It was a sore point for me that I passed the Associate Diploma exam with the LIA in 1983. The Diploma qualification at that time, was regarded to be above the Financial Planning Certificate.
I could not find a satisfactory buyer for my practice and in order to receive my renewals, I worked with a member of my network in 2013. This was unsatisfactory and I was unhappy with the advice provided to my clients. This arrangement was discontinued.
After losing some of my best clients because they did not like working with the Network IFA after I retired, I was referred to Keith Poultney of AFH in 2014. I was immediately impressed Keith and realised that he would be an excellent fit for my clients. I was also impressed with AFH, the company, the culture and the excellent systems provided. I had interviews with many other IFA sources at that time, but none appeared satisfactory. Meeting Alan Hudson confirmed that I was on the right track.
The Network was still receiving my renewals and it was necessary to visit my clients, to obtain signed Letters of Authority to transfer their business to AFH. Keith and AFH were very helpful and after an exhausting period because of the number of calls, the transfers were completed. Keith accompanied me on the client visits and was favourably received when introduced.