Paradigm Pensions founder Steve Bee has developed an online marketplace which allows advisers to shop around providers’ savings and employee benefits products.
It is available through the Jargon Free Benefits compliance and flexible benefits’ system launched by Bee last year.
Bee says the initiative has got the backing of 25 providers. He says: “I set up Paradigm Pensions with the express intention of helping forward-thinking advisers gain greater access to the enormous opportunities in the employee benefits area. With the right tools and technology, I believe IFAs are perfectly placed to provide small and medium-sized businesses with cost-effective access to the kind of systems and benefits historically only available to the very biggest organisations.”
Money Marketing first revealed details of Bee’s Jargon Free Benefits automatic enrolment offering in September 2011. Bee says the system, which helps employers comply with their auto-enrolment duties, will allow IFAs to become “mini employee benefit consultants” to small and medium-sized businesses.
Radcliffe & Newlands chartered financial planner Mel Kenny says: “This looks like an interesting concept and hopefully it will increase comptition among providers.”