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An adequate training programme for a medium-sized broker.

Q: I run a medium-sized broker. Should I be taking the training of my 10 staff more seriously and if so, how much should I spend?

It is not a question of spend, it is a question of the training needs
of the staff.


Traditionally, training budgets for brokers have been next to nothing.


With Financial Services Authority regulation on the horizon this will have
to change. The FSA will be demanding levels of competency in line with
your business and also evidence of this competency.


The best way to begin is to prepare a staff audit. Firstly, complete a job
specification, then carry out regular performance reviews. Integrated in
the

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Yutree outlines plans after MBO

Laura Hancock, managing director of Yutree Insurance has outlined plans for the future following a management buyout, including opening an office in Norwich.

Should you sell your broking business to an Employee Ownership Trust?

Tax-efficient exit strategies and staff incentivisation have become hot topics among broker leaders since the recent increases in Capital Gains Tax and Employer National Insurance. In the second part of a series focused on the fallout from the 2024 Labour Budget, Catherine Heyes examines how broker owners can use Employee Ownership Trusts to respond to these developments.

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