Believe in better, do your due diligence, recognise the benefits of the new proposition and have a plan to stop attrition. The support that we now receive from AFH, coupled with the zero platform fees is phenomenal.
Lyn Financial were a medium sized IFA firm, with a team of 45 including 22 Advisers set up and grown from 1986, Operating out of four offices across Devon and Somerset advising servicing clients within the local community.
For several years we had regularly assessed our business for the future progression in an ever-changing industry. Like numerous practices, we had an aging adviser population, giving concerns for succession planning. This along with the regulatory changes, Senior Managers Regime, capital adequacy, increased IT investment and escalating PI costs led us to consider our options.
We found ourselves stuck at a level and couldn’t progress further to develop in a way to support the advisers and their clients with Financial Planning advice. Our search for a new home led us to talk to AFH.
We really liked the ‘clients first’ approach and Alan Hudson’s passion about the proposition. It was important for us to be whole of market and we could see the support network available from the specialist Investment, Technical and Risk teams would help us and give us more valuable time to continue to grow our client bank and focus on the direct advice to clients. AFH certainly ticked the wish list.
Since joining AFH we have had very little attrition and feel this is down to the help with the transition of the clients we received from the integration team, the settling in of the support team and cementing the advisers into the new business.
The AFH centralised investment proposition and AFH Private Wealth service has enabled us to take on HNW and UHNW clients and offer bespoke portfolios for those clients looking for a more sophisticated portfolio. The addition of an inhouse DFM is a service we would have outsourced for our clients in the past. We can now provide this inhouse, offering our clients the benefit of a specialised investment team with lower costs.