New Reviewer

White labelled network service, part time workers, slow response

The network is effectively a white label of threesixtyservices, I only found this out when looking to go direct and spoke to 360 about my current network they advised the intranet and web based compliance support are all white labelled from 360. The file checking services have been brought in in-house as this used to be delegated to 360, the turnaround times are 5 working days for a case review and any follow up queries still run to 5 working days, its very easy to spend over a month until a file is reviewed as acceptable and able to submit new business. Network mandates use of Intelligent Office, which is fine but a member pays a monthly licence fee of £250 to Sense for using IO. The normal monthly charge for IO is £82 if you go direct to the provider, but Sense will not allow this you HAVE to pay their £250 rate. Unlike some other networks you also have to organise your own PI cover, and FCA fees which makes the deduction of only 7.5% from your gross turnover seem less reasonable. Many of the workers are part time so on calling the office you are asked to send an email instead and await a response. All in all I wouldn't recommend for the poor service, high charges, and inability to provide a prompt efficient service to clients.
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ID
#740635 Review #740635 is a subjective opinion of poster.
Location
Reading, England
Reason of review
Pricing issue

NO SENSE

As far as Compliance directors go - John Netting is an egotistical unapproachable money grabber. Charges.... Charges..... Charges. I recommend when you go and look for a network to join. Look at the additional charges. Sense make out that they are stiff on the compliance which is what you want. But the extra charges they make for file checking is outrageous. It almost feels like when they need a bit of extra cash, lets do some stiff file checks and then charge to get the rechecked. It is not just bad practice they know it is so much hassle to move network that majority just either grin and bare it, pack up and sell or make the move. Best recommendation... Make the move !!
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1 comment
#995676

Interesting comments, I'm looking to set up an IFA practice, out of interest which network did you go to? Any pointers would be useful

ID
#531253 Review #531253 is a subjective opinion of poster.
Location
Norwich, England
Reason of review
Unfair Charges

Sense Network Cheshire Rip off Charges

Having switched IFA Networks, I would like to give a word of warning to anyone looking to join the Sense Network. We were with them for a period of time but they were charging £75 a file review and in the end it was all about finding as many problems with our files to charge us. As each time they look at the file it is another £75!!!!!!!!!!!!!!!!!!!!!!!!!! They inform they are so compliant but have paid out over £100k in compensation for bad advice. They are run by ex Park Row directors Tim Newman and John Netting, which coincidentally after they left Park Row in a sorry state found itself at the hands of the Regulator freezing all advisers to go elsewhere. Why they set up their new high charging Sense Network. BEST ADVICE - Steer clear.
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ID
#477969 Review #477969 is a subjective opinion of poster.
Location
Cardiff, Wales

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