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Price comparison site offers ‘lead service’ to advisers

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  • 22/04/2013
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Price comparison site offers ‘lead service’ to advisers
Consumer independent price comparison website Payingtoomuch has developed a service that pairs customers with new advisers, and advisers with new leads.

The service, called ‘Find An Adviser’, will be incorporated into its consumer facing website.

When a consumer requests advice Payingtoomuch will email their local adviser firm with no charge for the lead.

In addition to this, the site will provide an adviser’s clients with an online capability for existing clients requiring non-advised products. 

Consumers will also be provided with a list of financial advisers who have agreed to provide them with 30 minutes worth of free financial advice.

Advisers will also be able to set up their own branded version of the service and provide their clients with access to financial products on the site that they don’t provide themselves.

Payingtoomuch will split the business it receives 50/50 with advisers, will a small deduction for low value travel insurance and for clawback where this is a possibility.

Several firms have already joined the scheme, including Chartered Financial Advisers, Skerrits, Plan Money and The Women’s Wealth Expert.

Michael Ward, managing director of Payingtoomuch, said: “Payingtoomuch is founded on a life and pensions base rather than a car insurance one and so we are adviser friendly. 

“We are about to launch a market leading annuity service which we feel needs to be backed up by an advice option for larger fund sizes so issues like flexible drawdown, phased retirement and fixed term annuities can be discussed.”

 

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