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Recruitment
This information
is for Professional use only and not intended for the
general public.
Bay Associates is a progressive,
expanding independent financial advice company. We are
always interested in new advisers joining our team. Our
commission terms are very attractive and we provide as
much support as you need. If you think you would like
to be a part of the company, take a look at the information
below and give us a call.
Our Success
Bay Associates Ltd has established itself as one of the
most successful independent financial adviser companies
in the south west. Although professionalism and expertise
are, of course, essential, we believe the key to that
success is our commitment to providing the highest standards
of service and advice to our clients.
Our continuing plans for development and our pro-active
outlook has enabled us to achieve a consistency of growth
and expansion that has “bucked the trend” within the industry.
It is our aim to become one of the major independently
owned IFA companies in the region. To achieve this it
is crucial for us to maintain the quality of advice, service
and support that has contributed to our success to-date.
The Company
Bay Associates Ltd is equally owned by its two directors
- Simon Durant and Seamus Coleman. Collectively they have
more than thirty five years experience within the financial
services industry. Both directors are jointly involved
in the overall management of the company yet remain very
active in the provision of advice to their clients. Although
each director can provide advice on all areas of financial
planning they have also specialised in specific fields.
The full range of services we offer
are:
-
Private
& Corporate Pensions
-
Savings
& Investments
-
Life
Assurance & Critical Illness
-
Income
Protection
-
Mortgages
-
Long
Term Care
-
Equity
Release
-
School
Fees Planning
-
Trust
& Inheritance Tax Planning
The directors
are supported by a team of fully qualified associates
spread throughout Devon and its neighbouring counties.
We currently have two offices. The main office is based
in Honiton with the second office in Exmouth. It is our
intention to continue to expand this network as demand
increases.The offices are managed by Caroline Evans and
her team of five assistants. We also act as agent for
the Nationwide Building Society in Honiton.
Compliance
Bay Associates Ltd is directly authorised
and regulated by the Financial Services Authority. All
our compliance is dealt with in-house and is overseen
by Seamus who is the compliance officer. Whilst this has
many benefits, in particular, allowing us to be subjective
about case decisions, we regard compliance matters with
the utmost importance.
Our industry has, unfortunately, been tarnished from time-to-time
by unprofessional conduct and advice. We hold our profession
in the highest esteem and consequently expect the same
high standards from our associates. Our compliance process
is in place to protect both our clients and our associates.
This is reinforced by regular checks from Bankhall and
official audits from the FSA. To-date we have always received
an excellent report.With our up-to-date research tools,
suitability letter guides and compliance checking, you
should be confident that your advice will always be the
“best advice”.
Development & Support
It is a high priority for us to
provide our associates with continuous development and
support. We normally expect our associates to manage and
run their own “business” within the company. As well as
servicing their own clients we hope they will be proactive
in looking for new sources of business. There are many
ways of achieving this such as arranging seminars, developing
professional connections, advertising in local papers
and magazines, canvassing letters, and more. Bay Associates
Ltd can help with advice on all these areas including
design of ads and posters, introductions etc. In addition
you would have the Bay Associates name to back up your
projects. Naturally, all of the above require approval
from the company before proceeding.
Whilst we encourage our associates to manage themselves,
the directors are always available to discuss any queries
or concerns you may have regarding any matter, on an individual
basis. This is further backed up by a quarterly one-to-one
meeting with Seamus to review your business, your aims,
ideas and address any areas of concern. In addition, each
associate has a dedicated member of the support staff
to help process their paperwork and admin queries
Our company also subscibes to the latest technology to
assist with research and advice. The Aequos Product Research
system, Ex-Web, Tri-Gold Mortgage Research, Webline, and
most recently, our new Intelligent Back Office system,
are available to enable you to provide the best recommendations
for your clients at the touch of a button.
Our industry watchdog is constantly demanding more professionalism
and this usually results in additional qualifications.
It is essential for all our associates to achieve a minimum
standard of qualifications including the FPC certificate
and CeMap.We are a key account of many product providers
and consequently we both demand and receive a high level
of service from the individual account managers. We have
built very close links with some of the company representatives
that has not only resulted in an excellent service but
has also often enabled us to obtain “special” deals.
Remuneration & Commission
Bay Associates is a member of Bankhall. Through them,
and specially negotiated rates with certain providers,
we can offer some of the highest commission terms possible.
All associates are recruited on a self-employed basis.
Remuneration is normally by way of commission; however,
paying for advice by way of fees is becoming more and
more popular. To encourage and reward,high performers
there is an attractive bonus scheme in place. In addition,
we can offer a discretionary salary guarantee for new
advisers over the first 3 months, although this is repayable
in full.
Full details of our commission structure, bonus scheme
and fee tariff are available on request.Your Professional
Indemnity insurance, FSA fees and other professional fees
are currently paid by Bay Associates; this is usually
subject to a minimum level of business production.
The Future
Through a planned process of expansion, Bay Associates
Ltd intends to become one of the top independent financial
adviser companies in the region. In this era of increasing
costs and tighter regulation, you will have the security
and reassurance of representing an established, professional
company.
I hope you have found this information helpful but if
you require any further details, please contact one of
the two directors at:
Bay Associates Ltd
62 High Street
Honiton
Devon EX14 1PQ
Telephone: 01404 47774 /
email enquiries@bayifa.co.uk
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