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Advisers sign up to sell online benefits package

Online employee benefits software specialist 4th Contact has signed partnerships with 21 IFAs to promote its service, which allows employees to keep track of their benefit packages online.

Working Wealth is designed to cut out many of the administrative costs which it is argued prevent small and medium-sized companies from offering flexible benefits to their employees.

It allows employees to keep track of the value and status of benefits such as pensions, life and health insurance.

Five of the 21 IFA firms will act as resellers and take responsibility for the marketing and sales of the service, while a further 16 will act as introducers, passing new business back to 4th Contact.

Annual fees for the service start at £44 per employee. It is aimed at companies with between 10 to 500 employees.

IFAs were selected by 4th Contact because of their existing activity in the corporate market. They include Millfield Partnership, BMS Financial Services, Lighthouse and Jackson Batten Financial Group.

BMS Financial Services managing director Tim Johnson says: “Working Wealth opens up a huge new sales territory for us because it makes flexible benefits available to even a 10-member scheme.

4th Contact chief executive Paul Watson says: “The IFAs we have signed up are all technology-aware forward thinkers, who are planning to expand their businesses rapidly by focusing on our core market, fast-growing clients with between 10 and 500 employees.”

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