25 Aug True Potential Suspends IFA Recruitment
The support services provider True Potential have announced that they will be suspending recruitment of any new IFAs as they aim to focus on helping existing users of their software transition to adviser charging in the run-up to the retail distribution review (RDR).
The company will not recruit any new firms until the end of 2011 and even then they will only recruit IFAs who are already considered RDR ready in 2012.
Dan Harrison, senior partner at True Potential, commented "We made a corporate decision to s
top recruiting new firms, albeit temporarily.
"We will spend more time with our 800 firms, helping advisers get onto adviser charging."
The move comes after the company were accused of backtracking on its buyout scheme, in which they had pledged to provide IFAs with four times recurring income for their businesses.