As we step into 2025, it’s the perfect time to reflect on your journey as a financial adviser and set yourself inspiring goals to make this year your most rewarding yet. What better resolution to make than to prioritise your happiness and success by joining Truly Independent? At Truly, we believe that happiness is the cornerstone of success, and that’s why we’ve built our model around ensuring our advisers not only thrive professionally but are truly fulfilled in what they do.
Our unique approach is rooted in our 6S model, a framework designed to help you build a business that suits your lifestyle and meets your aspirations. These six pillars—Structure, Strategy, Systems, Service, Support, and Succession—work together to form a solid foundation for your business. By focusing on these areas, you can achieve greater work-life balance, improve client satisfaction, and, ultimately, boost your professional success.
Structure
Our model begins with “Structure”. We are a National IFA, Directly Authorised, multi-adviser firm. We run everything in-house from our compliance to our marketing and while we outsource our technology, all other company operations are run internally. This allows our advisers to focus on their clients, while we focus on the non-client business activities which this highly regulated industry demands.
This way we are able to help our advisers promote their business while ensuring their business is effectively protected. It’s a win-win business model.
We work with self-employed advisers under a contract for services. We offer all new advisers a cooperative ethos, about being inclusive, a part of something, working for the good of the whole and each benefiting from that.
Strategy
We focus on seeking out and recruiting only the best available financial advisers who have a desire to make a difference and understand our ethos.
Staff numbers are growing and all are dedicated to helping, supporting and guiding the advisers. Our aim is to maintain a business efficient ratio of 10 advisers to one staff member meaning advisers retain more.
Our ambitions are to have an IFA within 35 miles of everyone in the UK who provide financial advice that is unbiased, unrestricted and affordable
We exist to support advisers who understand and appreciate that our development is always to embrace the values of independence and free from product influences.
Systems
Our back office system is powerful and comprehensive. The system runs everything automatically; it’s a single data entry all the way through, completely paperless and easily accessible UK wide.
Our website is aimed at the customer with helpful and engaging information. They have the ability to use our search tool to find a Truly IFA in their area. They can access financial calculators, fact sheets, magazines and more. Customers can login to their own personal web portal and obtain real time valuations from a variety of product providers and firms.
Our intranet brings together people who share the same goals, traditions and ambition so that collaboration just happens – even on the go.
Services
Advisers who focus on ‘making a difference in the lives of others’ rather than making more money is a key factor to being happier in business, and the higher income will follow.
To ensure we treat our clients fairly and transparently, all our advisers charge the same fees: We charge 3% of first £100,000 of investment, 2% for the next £100,000 and 1% for anything above £200,000. This will be maximised at £10,000. There is a minimum ‘engagement’ fee of £500 for each new piece of advice, which applies within your first 12 months of engagement with Truly Independent Ltd.
Our advisers focus on setting goals for their clients and ongoing monitoring of their client’s achievements towards their goals are reflected in the well-structured ongoing support facility we operate. Advisers earn 5% extra for all compliant fee income they receive for provision of ongoing support business.
Support
All our staff have one core question in mind, ‘how can they make a difference to the lives of our advisers?’ This ethos is testament to the mindset of our staff who thrive on a culture of growth and creativity.
We provide all new advisers with local ‘mentoring support’. From our vast experience, we know that ‘in the field’ support is crucial to the long term success of any multi-adviser firm. Our mentors are all existing Truly IFAs who have already achieved the company’s minimum standards of advice, competence and training.
Our Action Team is specifically set up to take new advisers from their induction course straight through to being signed off as a Truly Competent Adviser (TCAS) and beyond. They operate as a ‘help desk’ and are collectively involved in all company functions such as training, case checking, pre-approvals, mentoring, supervision and advice.
Succession
Our succession strategy will help you to be prepared for retirement. When you look closely at the process and activities needed to sell your business to a third party, as guided by the FCA, the sale becomes less attractive over succession.
Succession is the process of passing your business on to another adviser within the firm. It is the simplest and best solution, and can be legally binding too.
Our contracts and successor agreements ensure smooth and uncontested client relationships and handover. Of course, you may already have a successor in mind.
Our succession strategy ensures:
- You can plan retirement without any disruptive transitions.
- Your clients will receive continuity of available advice and ongoing support with ease.
But there’s one more vital element that ties everything together—Synergy.
Synergy represents the harmonious blend of the six Ss. It’s what makes our approach truly unique. When all these elements work in concert, they create a powerful, seamless system that not only drives your business forward but ensures it remains sustainable and rewarding in the long term.
So, as we welcome 2025, why not make happiness your New Year’s resolution? By joining Truly Independent, you’re choosing a path to a fulfilling, successful career where every element of your business works together in harmony.
Ready to discover how Truly Independent can help you achieve happiness and success? Book a Discovery Session with us today! These one-on-one sessions are an opportunity for you to learn more about the Truly Independent model, explore how we can support you, and see if joining us is the right move for you. Don’t wait—make 2025 the year you take the next step in your career!
