THG initially comprises of six established IFA firms and 22 advisors but aims to attract individuals and firms from all areas of the financial services sector, in particular one / two-adviser businesses, as the sector consolidates. Core services and solutions will include administration support, para-planning, business development, marketing support, succession and exist strategies, assistance with the development of professional connections, product development and added value services for clients. The Group will also offer equity participation and a share-incentive scheme for Members.
THG have gained sponsorship for their launch event, to be held at The Ivy in London, from key industry relationships that include Clerical Medical, Skandia, Tilney Investment Management and Movision.
Commenting on the rational for the launch of THG, Brian Collinson, CEO, commented, “ The founders share a common desire to pool their knowledge and experience for the benefit of all Members. Setting up the THG cooperative will provide a platform to achieve this. It is aimed at small to medium sized intermediaries who will enjoy the benefits of being part of a large company whilst retaining their true independence and identity.
Brian Collinson continued, “Trinity is different from a traditional network or club because it is a consolidation of firms and resources, so Members benefit in two ways, firstly they benefit from the support services on offer and secondly, they benefit from a financial interest in the group. Therefore, the more they use the services Trinity offer, the greater the value of their financial stake.”
Lending his support for the launch of THG, Paul Smee, Director General of AIFA commented, “This is an interesting idea. Anything which allows IFAs to pool knowledge in the interests of a better service for their clients is well worth trying.
THG have teamed up with Bankhall who have become a key partner service provider. This will give THG Members full access to Bankhall’s comprehensive range of support services for IFA’s and mortgage brokers including Bankhall Investment Finance, compliance services and IFAengine. Of particular interest to mortgage broker Members of THG will be the opportunity to benefit from the support of Point One during this period of significant regulatory change. Bankhall Point One is acutely aware of the problems facing intermediaries today such as profitability of new business acquisition, cost of operation, resource management and increasing productivity. With this in mind, Bankhall Point One has been set up to provide intermediaries with all the advantages of the traditional network but without the inherent drawbacks. THG believe, as do Bankhall, that true independence can only be achieved by direct regulation and THG will empower brokers to achieve this with Bankhall’s support.
Paul Hogarth, Joint Chief Executive at Bankhall commented, “ We welcome the launch of Trinity House Group and look forward to working with them. We will be making our comprehensive range of support services available to THG Members in order to help them to grow and become more profitable. Being successful in the financial services marketplace is about working smarter and working together to achieve a common goal.”
Intermediaries can request further information about becoming a Member of Trinity House Group by calling 01732 835655 or emailing [email protected]
