Updated: May 5
Assessing business relief opportunities can be a complex business. Individuals often approach financial advisers to guide them on the best path for their particular circumstances.
The question of whether an adviser can recommend some of the discretionary managed services currently in the business relief market has arisen.
The cause of concern is the level of look-through that is available to the underlying trading companies in some services. This means that even if the opportunity is marketed as a service, the adviser is fundamentally recommending the underlying trading company and many advisers no longer have the qualification to advise on securities.
As Adempi works with a number of BR providers, we’ve been keeping an eye on developments and are helping firms adapt to this new thinking. Fellow compliance consultancy, threesixty, has been considering this from the adviser perspective. They have kindly agreed to our reproduction of their note to advisers, published in December 2020, which succinctly sets out the challenge that advisers face.
With threesixty we are jointly-hosting a round table on 25 February to explore this issue with BR providers. If you are a BR provider and would like to attend, please contact either email@example.com or firstname.lastname@example.org.