A former adviser and paraplanner has set up an online IFA search listings service to provide details of advisers that meet its professional standards criteria.
Clientela.co.uk has been set up by managing director Chris Smith to refer prospective clients to advisers.
The site will only list independent advisers qualified to at least QCF level four.
The electronic application process requires advisers to provide copies of relevant qualifications and their CPD record.
Clientela will also ask to see a copy of an initial disclosure document, a fact-find and a case study completed by the adviser with the client details removed.
Once listed on the site, clients can review advisers using a star rating system.
There is no application charge but where an adviser gains a client through the site, an introducer fee of 20 per cent of the initial adviser charge will be payable to Clientela, plus 5 per cent of ongoing earnings.
Smith says: “This is about having a very structured way of assessing advisers before bringing them on board.”
Evolve Financial Planning director Jason Witcombe says: “The service’s success will depend on the interest it can generate to get consumers on the site.”