Two former Thinc directors are targeting IFAs who will not survive the retail distribution review (RDR) to form a 100-strong franchise to promote unregulated investments.
Gregg Taylor (pictured) and Neil Harkin, who founded Thinc in 2000 before selling it to AXA in 2006, are now managing director and chairman respectively of product promoter What Partnership, which was launched in 2011. Through subsidiary What Investment, the firm offers a range of unregulated investments including green oil and property.
Taylor said the firm was looking to recruit 100 advisers to sell these investments and also wanted to tie-up with advisers who would survive the RDR, but who wanted to supplement their income.
What Partnership pays commission of around 6% on green oil investments and 10% on UK property investments. The products it provides do not fall under the regulator’s clampdown on unregulated collective investment schemes as they are not collectives.
Taylor said: ‘This is a great opportunity for advisers who want to continue to look after their clients but may have chosen the non-RDR route or those who can see an opportunity to build a new business based on a solid business franchise model.’