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Bid firm leads the way into pension sector

Pension advisers can bid for customer leads in a scheme developed by Paaleads.com.

The lead-generation firm, which last week launched a bidding system in the mortgage market, is set to add pensions on October 24 and claims to be the first lead-generation firm in the pension sector.

The system gives priority to the highest bidder. Lower bidders will have to wait until those above them get their leads but they will only be invoiced once successful.

Advisers can specify from which areas or districts they want the leads to come from.

The leads are generated from aggregator Moneysupermarket where a customer has asked for independent financial advice, though Paaleads is in talks with other websites to extend its offering in future.

Pensions will be available on Moneysupermarket.com for the first time from October 24.

Moneysupermarket marketing director Stuart Glendinning says: “We believe this will be a big thing for the pension market. In two or three years, this is how many businesses will source leads.”

London & Country head of communications David Holl-ingworth says: “The technology seems useful but does the customer want to be up for grabs to the highest bidder?”

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