Quick witted entrepreneurs are snapping up bargain price potential financial services internet addresses which could net them a fortune.
They are picking up internet addresses, known as domain names, for as little as £45, aiming to sell them on to financial services companies and make huge profits.
IFA Square Mile managing director Chris Dixon claims he is sitting on a fortune having had offers for $10m for his stakeholderpensions.co.uk address.
But firms slow on the uptake are missing out on registering their obvious address names and are likely to be charged a heavy price to obtain the rights to them.
Key in IFA network Burns Anderson as burnsanderson.com, for example, and the web-page reverts to RGM Support, a company selling domain names which has also registered best-ifa.com and ISA2000.com. BA's actual web address is burns-anderson.co.uk.
Dixon says: "We bought the stakeholder sites two years ago and have already had offers for $10m. Some companies are going to have to scratch for the scraps if they don't hurry up."
FTC consultant Ian McKenna says: "Anyone who wants a presence on the internet should secure there domain name as a matter of urgency otherwise they will find it got nicked months ago."
Network DBS has made sure it has registered its full name to make sure no one else gets their first. It has registered a domain address of dbsfinancialmanagement.plc.uk.