Benefits of a joint-venture (JV) structure for financial planning If the JV is an Appointed Representative of the IFA firm, the IFA firm will carry front- line responsibility for compliance with FSA requirements Solicitor participants can receive dividends provided the JV operates on a fee basis and accounts to clients for any commissions received The JV can use the IFA firm's existing staff, compliance and business management systems but must ring-fence the clients of the JV - and revenue from them - within the system JV can be structured as a limited company or a limited liability partnership (tax considerations will normally dictate the appropriate structure) Offers flexibility over equity structure and profit share
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