NOVATION LETTERS

From the “Old” Firm, we need on company letterhead:

• Company name
• FCA
• Address
• Confirmation that they agree to the transfer of:
• Adviser fees
• Renewal commission
• Servicing rights
• Unearned commission liabilities for all policies from to the new firm (you will need to state NEW FIRM NAME AND FCA NUMBER)
• Signed by Company Director

From the “New” Firm we need on company letterhead:

• Company name
• FCA
• Address
• Confirmation that they agree to accept:
• Adviser fees
• Renewal commission
• Servicing rights
• Unearned commission liabilities for all policies from the old firm (you will need to state OLD FIRM NAME AND FCA NUMBER)
• Signed by Company Director

For guidance, we have included template examples you can use:

AR to DA novation letter	DA to DA novation letter	Network to Network novation letter
AR to DA Novation example Sept 2023	DA to DA Novation example Sept 2023	Network to Network Novation example Sept 2023