2plan to launch member share scheme

National IFA 2plan Wealth Management is launching a company share scheme with members qualifying for holdings based on their production levels.

Chief executive Chris Smallwood says the scheme, also open to new joiners appointed prior to 31 May, will help ensure the business never engenders a "them and us" culture.

The company says it is also adding a new personalised link to its Nexus portal, which currently covers members' commission statements among other things, to provide up to date business level and share qualification information.

It comes as 2plan recorded a 144% increase in turnover last year compared to 2008 - from £3.2m to £7.8m. The company now has more than 200 IFA members.

"We have always been firm believers in alignment and allowing everyone to share in the success of 2plan and have the opportunity to become a shareholder makes absolute sense as part of our long term growth plans," Smallwood says.

"Personally, I believe it can also bring about a change in people - and owning part of something which you are truly proud to be part of means everyone shares the same passion to work together for common goals."

2plan says the full set of share scheme rules will be published shortly.