IFA Bernard Down is launching an annuity leads business designed to help advisers compete with non-advised annuity brokers.
Advisers can sign up to the service, called the Open Market Option Bureau, for £25 a month.
Advisers will pay £40 for every lead the Omo Bureau forwards. The firm aims to generate 25,000 new business leads a year.
Advisers will be given a license to two local standard phone codes or a share of enquiries from a large city within 25 miles of their location.
The Open Market Option Bureau will use the monthly fee to fund a collective advertising drive to promote annuity advice across TV, print, radio and online media.
Omo Bureau director Bernard Down says: “The open market option annuity market is already huge and will only grow as the regulators seek to optimise uptake of the open market option. The retirement planning potential for new business is enormous.”