Advisers Worldwide managing director Clive Macdonald said, having spent more than three years as a subsidiary of PIS, the company’s directors believed the time had come to “move the offshore financial adviser market forward.”
The Kuala Lumpur-based firm will be introducing new remuneration models, giving advisers a choice of the ‘traditional percentage retention model’ or a flat fee and reduced retention.
Advisers Worldwide also plans to bring in a ‘fee for service’ structure, or hybrid of commission and fees model, of which Macdonald noted: “This is particularly appropriate when there is such focus on the way life companies remunerates offshore IFAs.”
He said that the input of PIS into how to run an advisory business in a regulated market had been invaluable over the past three years, adding: “We are now looking to capitalise on this and feel that both reputable advisers and clients are looking for a much higher degree of flexibility and openness.
“We want to create an environment where the adviser can build a sustainable business focused around recurring revenue, trails and renewals.”
The expat-focused firm provides advice to individuals and businesses and services include portfolio management, estate, education and retirement planning, protection and advice on repatriation.
