Networks The network conundrum
The AR versus DA conundrum is as old as the hills but the decision to join a network doesn’t have to be a tug-of-war, it’s simply a matter of preference
by
Richard Adams, managing director,
Stonebridge Group
Whenever I encounter a debate about the various merits of advisory practices going down either the appointed representative or directly authorised routes, there is always something of a tug-of-war feel about it.
By this I mean that those analysing the issue often begin the argument from a starting point which could easily be defined as “AR versus DA”. The inherent logic seems to be that one will eventually prevail at the expense at the other or that it is impossible for both to live harmoniously alongside each other. Depending on the individual and their conflict of interest they will suggest that one side is good, the other evil and those who are on the “evil” side should move across to join those deemed righteous as soon as possible.
Both caN Both prosper This simplistic approach to the options available to advisers misses out one crucial factor and that is that most AR firms are not suited or do not ever want to be directly authorised and likewise a significant number of DA firms are happy with their lot and unlikely to ever move to AR.
There is room in the marketplace for both routes and even with the increasing
46 morTgage inTroducer APRIL 2011
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