The directors are supported by a team of fully qualified associates spread throughout Devon and its neighbouring counties.

The main office is based in Honiton. It is our intention to continue to expand this network as demand increases. 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 Advicer 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: