Wealth management firm OpesFidelio has created new membership packages aimed at two distinct categories of financial advisers, greatly expanding the opportunities for both seasoned and newcomer advisers.
The UK Proficio Package is designed for Financial Conduct Authority (FCA) regulated advisers who have four or fewer clients who have or are about to expatriate to the EU where the adviser and client want to maintain an advisory relationship. OpesFidelio will allow membership of their proposition for an annual fee of just £900 ($1,122, €1,045) once the joining fee has been paid.
The fee-split Proficio Package utilises a 20% split membership model, where the member shares all fees and commissions with the network, while retaining 80% of all earnings. This package is designed specifically for qualified advisers who base their business in the EU, are actively building their client base, and are yet to be able to comfortably enter a fee only based relationship.
In both scenarios above, the adviser has the full choice of the EU product range and with investments restricted to the central CIP or approved DFMs. Furthermore, these members can change to the Assurgo fee-based monthly charge package at a later date if they wish.
OpesFidelio executive director Max Durrant said: “We believe the best value packages for a fully engaged EU adviser are our fee-based original packages. Now, alongside those, I am delighted to offer two new packages: one allows high quality UK advisers to retain their UK clients who move to the EU.
“An additional package offers high quality EU advisers who are still building a client base the benefit of Mifid, pensions, and IDD permissions throughout the EU from day one.”
