FBA.com was created by Chief Executive Officer, Ash Patel, to help investors and advisers navigate the changing UK advisory market as it prepares for the introduction of the RDR in January 2013. Ash has used his knowledge of the US market and his experience in the UK market, to build an online service that offers specific, useful support to UK advisers as they reorganise their businesses in the lead up to the RDR. Ash has been dedicated to modernising financial advice since the late nineties.
After intensive market research, Ash launched the National Association of Fee Based Advisers (NAFBA) in 1999 - a market-leading concept to which hundreds of Independent Financial Adviser practices signed up. Sadly the FSAâ€™s delays in pursuing â€˜truly independent, fee-based adviceâ€™ meant that NAFBA was a few years ahead of its time.
Fed up with waiting for the FSA to catch up, NAFBA closed its doors in 2005. In an ironic twist, the FSA revived its call for â€˜truly independent, fee-based adviceâ€™ in 2006 with the Retail Distribution Review. Once the proposals were adopted, Ash knew that many advisers would choose to specialise in just one area of financial advice e.g Pensions, Mortgages, Investments etc.Â He knew that this would lead to many financial advisers no longer being qualified to service all their clients. And he wanted to minimise the disruption to consumers and advisers during this period of readjustment.
FBA.com has been developed to offer advisers and consumers a robust online marketplace where they can match qualified advisers to client needs.