A group of former advisers and IT professionals have launched a website allowing brokers to take referral fees from conveyancing and property valuations.
SortRefer pairs advisers looking for conveyancing or surveying services for clients with selected law firms and surveying firms, with the adviser setting their own fee for referrals.
Founder James Boyles said advisers often passed business to local law firms, without attempting to maximise revenue.
“We can open up an area of revenue for the broker community for commercial conveyancing, which we don’t believe exists elsewhere,” he said.
“If a property is being put into a SIPP, for example, the provider will in most cases want a valuation done on a property.
“In the past the adviser would have just passed it on to the local guy, and currently introducers can’t really earn a fee anywhere on the market through surveys.”
