CF30 S/E Job Spec’ OTE £50,000 +
Fee Split
50/50 until the applicant is signed off as a Competent Adviser 60/40 CAS to £35,000 70/30 £35,001 to £70,000 80/20 £70,001 onwards The applicant will need to maintain an average of OTE of whatever level is attained after 12 months, or the split will revert to the appropriate previous level. This will be monitored on a monthly basis from month 13 onwards. These figures are net of persistency. Should the turnover fall due to poor persistency, then the most appropriate level will be paid. The above fee splits cover the cost of compliance, Bankhall Support, Bankhall Seminars and Training Sessions, PI Insurance. The applicant will be responsible for your own tax and national insurance on a Self Employed basis. The applicant will not be entitled to any employee benefits of any kind, including but not exclusive to holiday pay, sick pay, pension etc……
Retention
10% of turnover will be retained in a suspense account to cover any claw backs or PI Claims. After 12 months the excess above £10,000 will be released to the applicant as a lump sum payment. After 12 months the whole of the fee entitlement will be paid as long as the suspense account does not fall lower than £10,000.
Competent Adviser Status
I expect the applicant to gain CAS within two months of joining. The first five cases will need to be passed by our External Compliance Officer provided by Bankhall. It will be expected to see at least one mortgage file or investment bond, one protection, one pension and two others of any description and a minimum overall turnover of £10,000. As soon as CAS has been signed off the applicant will immediately move on to the higher fee split as shown above.
Bankhall Support
I will arrange full access to Bankhall systems and support including access to Bankhall Online, Sesame/Bankhall Research, training sessions and seminars…….. Periodically files will be sent for Compliance Checking in order to maintain CAS.
Status
The position will be as an Independent Financial Adviser (CF30) with the ability to provide full advice up to your relevant qualifications, on a whole of market and unrestricted basis. The applicant will be expected to provide a copy of each client file which will be held for Compliance purposes. The applicant will not be permitted to offer financial services under any other company name whilst associated with White House Mortgages Ltd & White House Independent Financial Services Ltd.
Other
I will arrange access and training to our various sourcing tools. The cost of provision will be passed on to the applicant, as will the cost of business cards and headed paper. Periodic client newsletters will be made available to applicant for their clients at no further charge.
Next Steps
I would like to see a copy of the last statement to confirm your turnover. I will also need to see a copy of applicant’s passport, driving license and Equifax Credit Report.
Tony Silver Director
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