01 Dec IFA Network Tenet Launch New Charging Structure

The IFA network Tenet have announced that they are set to restructure their charging structure in conjunction with launching a restricted advice proposition in the first half of 2011. The claim that the moves should make the company a more attractive proposition to larger members. Tenet distribution and development director, Keith Richards claims that the company's primary focus is still on supporting independent advisers, however they are no going to supplement this with the restricted proposition that will see launch next year. He commented "We’ve already looked at a range of restricted advice models and options, but we decided our key focus at the moment is to continue building a transitional infrastructure which will help advisers meet the more demanding independence requirements post retail distribution review." The new charging structure has already been rolled out to member firms and will see the company revise its current system, which is based on a percentage of a member firm's turnover, for a fl at fee and menu of services.