IFA trading platform Assure-web is teaming up with online traded endowment policy service Freetrawl to give its users access to online Tep valuations.
IFAs using Assureweb will be able to access the Freetrawl service free and search for quotes on polices from Tep market-makers. The Freetrawl site allows IFAs to enters a client's policy details, which are then forwarded to up to 10 market-makers.
A range of quotes are returned to the IFA in a format which is designed for use with clients. The quotations meet all compliance requirements.
Freetrawl says no paperwork is needed until the final offer is produced. Freetrawl's parent company PolicyPlus says around £500m worth of endowment policies were tra ded the last year and trading an endowment offers clients on average £1,500.more than surrendering a policy.
It also says in the four months IFAs have been trading their clients' endowment policies on freetrawl.com, the system has generated quotes on average 27 per cent higher than surrender value.