Sense Financial Solutions goes for growth ahead of quitting network

Nottingham-based Sense Financial Solutions is looking to grow its adviser numbers by 50% before 2013 ahead of a move to become directly regulated.

The firm, founded by five directors in 2005, plans to expand before the implementation of the retail distribution review (RDR). In line with its growth plans, it is also looking to part company with the Mint Network, of which it is an appointed representative.

Non-executive chairman Howard Whitehurst said if the business met its growth plans it may look to separate from Mint.

‘We are looking to expand the number of advisers we have from eight to 12 over the next three years,’ he said.

‘It’s not cost effective at the moment to go directly regulated but if we grow as planned then it will be.’

The company operates in the East Midlands, but Whitehurst said if opportunities opened up in other parts of the country to work with IFAs the company would pursue them.

However, Sense it is not looking to become a national IFA. ‘We don’t want to be so big that we become impersonal,’ said Whitehurst.

Sense is also expecting to see a change in its management team after director Sid Court revealed he planned to retire when he reached age 65.

The 63-year-old said there were no plans to replace him at present but added the remaining IFAs would either absorb his existing clients or employ another IFA to take them on.