We’ve announced support for advisers seeking financial assistance through and beyond the RDR with the launch of a comprehensive cash flow finance initiative.
Brokered by Fiducia Commercial Solutions, a long-standing member of Openwork, the initiative will enable our advisers to access a range of lending options including unsecured loans, commercial mortgages, secured loans and overdrafts. To help advisers manage their cash flow through the transition to fees we will, for an extended period, pay the broker fee for all available lending options.
In addition to pre and post-RDR cash flow support, the initiative, which launches today, will also enable our advisers to access funding for consolidation, growth, acquisition, recruitment and retention and working capital.
Commenting, Philip Martin, Proposition & Marketing Director, says: “The transition to fees will inevitably put firms’ cash flow under strain and our initiative with Fiducia will enable advisers to access the funding that is right for their business at no cost in terms of broker fee. This initiative is another valuable addition to our RDR support programme and we will continue to seek ways to alleviate the burden on advisers as they move to new business models in the coming months and beyond.”
Marcus Grimshaw, Director at Fiducia Commercial Solutions, comments: “Our experience and knowledge in commercial lending combined with our background in the advice sector means we understand the pressures facing advisers and the forms of funding that will best serve their requirements. We are pleased to partner with Openwork for this initiative and look forward to helping advisers within the network access the financial support they will need both now and in the future.”