In recent years Appointed Representative Networks have grown to help support entrepreneurs and small businesses. This ‘ready made’ access to market provides help and support but they can have big set up costs and are not very tax efficient for a large percentage of people.
Add to that the restrictions placed on Appointed Representatives (AR) with some insurers refusing to deal with AR’s and the tightening of FCA rules on Principal firms, the future for AR’s might be bleak.
But there is an alternative
All of the benefits of being an AR and none of the restrictions are achievable as a self-employed consultant of a Directly Authorised firm. This way the consultant can own all or part of their own book of business, have more control over their business and enjoy benefits including tax advantages, no restrictions on their own insurer relations and broking activity, a tailored support service agreement, professional indemnity insurance paid by the principal firm, no ceiling to earnings, equity deals, start-up finance and much more.
At Gravity Risk Services Ltd, we provide Self Employed Consultants with a range of services including:
Account reconciliation I Client money controls I Agency agreements
Complaints management and reporting I Consumer credit licence provision
Training and competence management I IT support services