Solicitor IFA Relationships

Many firms are now looking to enhance client relationships beyond legal services to develop closer client relationships. One of the areas that this works well, is in the provision of Independent Financial Advice.

PCC has a relationship with a national firm of Independent Financial Advisers who have created a joint venture approach specifically for solicitors and their clients. The model is simple:

  • The Solicitor and IFA firm create a financial services joint venture.
  • There is an established template agreement and independent legal advice which covers regulatory compliance.
  • The IFA firm provide qualified Independent Financial Advisers who work from the solicitor’s office under the JV brand.
  • The IFA’s work with the solicitor’s firm to identify clients who could benefit from independent financial advice and the IFA makes appointments with clients to offer a free initial meeting.
  • From there the IFA’s provide a fully independent advice service to the client.
  • The solicitors firm benefits from a revenue share under the joint venture agreement, which builds an ongoing and sustainable revenue stream without any direct cost to the firm.
  • The solicitors firm also benefits from closer client relationships through the IFA arrangements.

PCC has already delivered this model into several firms, with great success.

If you would like to know more, contact PCC today and I will provide you with link to a video which explains how the scheme works.