At a Glance

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Franchisor Interview

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At a Glance

Established:
2006

Typical start up cost:
£25000

Minimum personal contribution:
£25000

BFA status:
Full

UK presence:
15 franchisees

Development type:
Single-unit franchises

Franchisor Interview

Interview with Andrew Singleton, Money Advice & Planning Ltd

Money Advice & Planning Ltd is the only firm of Individual Finance Advisors to be franchised. Franchisor, Andrew Singleton shares with whichfranchise the reasons why the MAP franchise system gone from strength to strength. He also shares his advice to franchisees should consider when researching a franchise business for themselves.

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About a Money Advice & Planning Franchise

At a Glance

Franchisor Interview

Request Free Info

Money Advice and Planning Franchise

The MAP proposition is unique in the Independent Financial Advice market and offers a genuine opportunity for motivated individuals to enter this industry and build their own IFA business.

Money Advice and Planning financial adviser

Our Business Proposition is quite simple really, we will provide you with everything you need to establish your IFA business and to generate opportunities almost from day one.

It may sound simple, but the reality is that for an individual to go about setting up a sustainable IFA business on their own in today’s financial climate would be extremely difficult to say the least.

As a MAP Franchisee you will be able to establish and grow your business, safe in the knowledge that you have a team behind you to support you in every area of your business.

Establishing Your Business

Trying to establish a business and enter an already established market place can be daunting to say the least and that is why many people choose to opt for franchising.

Money Advice and Planning female franchisee at work

Franchising is a business relationship where one party allows another party to operate under an already established brand and operating system and benefit from the initial and ongoing support available without having to employ staff to provide this support and expertise.

This in return allows the Franchisee to spend their time in front of clients generating fee income and growing their business.

Setting Up Your Business

In order to set up and establish your business as quickly as possible, MAP will provide you with the following support:

Business setup
Training
Equipment
Stationary
Marketing
On - site training & support

Initial Fee

business man working with Money Advice and Planning

The initial fee which will effectively provide you with a “business in a box” and allow you to hit the ground running from day one is £25,000.

(This fee can be adapted on a modular basis subject to experience and relevant qualifications held.)

On-Going Support

Once the business is set-up, we will provide you with ongoing support to run and grow the business on a daily basis and this support comes in various forms, as follows:

Training
Administrative support
Compliance support
Insurance Cover
Product Research
Technical Support
Marketing Support

Why Choose Us?

We can provide you with a unique opportunity to start and run your own IFA business with all the initial and ongoing support you will ever need.
We will give you the ability to spend your time speaking to clients while we take care of almost everything else.
You will have the option to generate a very good income whilst maintaining a good work/life balance.
We will give you the opportunity to build an asset of substantial value that you can sell at some stage in the future.

Next Steps?

If you have a genuine interest in the franchise and would like to progress this to the next stage and arrange a meeting with one of our management team then please contact us on the form below:

Interested and want to know more?

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At a Glance

Established:2006

Min total investment:
£25000

Min contribution:
£25000

Development type:
Full

UK presence:
15 franchisees

Development type:

Franchisor Interview

Interview with Andrew Singleton, Money Advice & Planning Ltd

Franchisors name: Andrew Singleton
Name of franchise: Money Advice & Planning (MAP)

Tell us about how/when the business was started and the motivation behind establishing the company.

MAP was formed in 2007 with the aim of building it up as a franchise. I believe that the best Independent Financial Advisors (IFA) are self-employed people who are building up their own business; they have a vested interest in making things happen.

MAP was created to serve IFA’s who in turn would service clients and to this end we have developed a number of unique selling points:

A unique method of investing which produces good result
We have developed good reporting systems so that clients are always kept up to date with their finances.
We have developed systems to ensure that our compliance record is first class – and so minimise complaints etc.

MAP is in the business of financial services and so we need to give our clients a service, and a service that is second to none, because it is only in doing this, will you create and keep a customer (which is my definition of marketing).

When and why did you decide to go down the franchise route?

I have previously run IFA businesses with employed and self-employed advisers, but no one ever seemed to have an appetite for hard work. In my opinion this can only come through a franchise where someone can actually build their own business up with a view to selling it at some time in the future, so they have a vested interest in doing well at all stages. In franchising the business, we have emphasised that it is more than just earning a living; it is building something of value.

What have been the company’s biggest achievements/successes to date so far?

Money Advice & Planning Ltd are the only firm of IFA’s to be franchised, and we are continually building on achievements like this.

What challenges have you had to overcome?

The biggest challenge to launching the franchise was to find a way through the compliance jungle. Financial services today are highly regulated and only a qualified and experienced adviser can give advice. Now that’s very much chicken and egg I know, so we had to develop our training systems to accommodate this and so allow new people to the industry to join us, and as regulation changes constantly – then so does our model.

What marketing/promotional tools do you use to grow your franchise?

We have developed (and are still developing) online ways of boosting business for franchisees, because that is the main way to go. We have also developed a marketing database for an area and this allows us to identify our specific marketing targets – niche marketing at its best

What differentiates MAP from the competition?

By concentrating on giving clients a first class service through the use of technology that other firms can only dream of. We always need to keep in front

In your opinion, what makes a successful MAP franchisee?

Financial services are a numbers game, and what makes a successful MAP franchisee, is for them to see as many people as they can – constantly. MAP deals with a franchisee’s admin work and so that frees up advisers who can then go and see clients all day long, instead of getting bogged down with paperwork.

What changes have you seen in your industry over recent year? And how have you adapted to them?

I would say that our business has had constant change over the years. Regulators started off as SIB, then FIMBRA, PIA, FSA and currently FCA. FSA brought in RDR with changed qualification levels; there have been changes in commission and fees. It seems that nigh on every year for the last 10 years or so there has been radical change – and if you don’t adapt then you don’t survive.

What does the future hold for MAP?

With the new legislation on pension freedoms due to kick in April 15, this gives all IFA’s an enormous market of people out there who will be looking for advice. This improves things significantly

What expansion plans have you got nationally and internationally?

Nationally we are hoping to get around 200 or so IFA’s and for the meantime we don’t have any international plans.

What advice would you give to someone considering franchising their business?

You need to have a good product/idea that can be replicated by others – and the devil is always in the detail.

If you had to do it all again, what would you do differently?

I would have started franchising an awful lot earlier than I did, because I can see all too easily now, how beneficial franchising actually is to my business.