Many advisers tied into strict contracts
His financial services business, DUX was started 12 years ago, and with changes in new legislation offers two main paths for new and existing advisers in creating autonomy in building their businesses and full client ownership, or, advisers entering the industry with clear commission splits and training and assistance, and more.
Borthwick says with the new licensing, what he has been seeing is most businesses had strict contracts around client ownership and what that meant if advisers left the business.
“With things like how much they are paid, or what advisers can take with them, which can be very little or nothing.”
He says having gone through that process himself when he started out, he wanted to help others through it, so they can “leave a place they have no ownership in, have put time and effort into, and having to start again.”
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