Advisers could be paid £1,700 for referring clients to provider Just Group’s financial planners under a new introduction scheme.
Advisers can refer clients wanting either retirement income, care funding or equity release advice to Just Group business Hub Referral Solutions.
Hub will pay introducer fees and has given example fees for completed referrals as:
- Retirement income: £390 (based on introducer fee of 1 per cent, average fund value £39,000)
- Equity release: £1,610 (based on introducer fee of 1.75 per cent, average initial advance £92,000)
- Care funding: £1,755 (based on introducer fee of 1.5 per cent, average purchase price £117,000)
Through the service retirement income clients will get either guidance or regulated advice from Just, depending on their needs. Equity release and care funding clients will receive regulated advice.
Just currently around 30 advisers as part of its Hub business.
Just communications director Stephen Lowe says: “There is strong demand for advice in all three areas with new pension rules driving up demand for professional help when making retirement decisions, growing interest in unlocking equity in the home and an ageing population meaning more focus on care funding issues.”
Just says the service will benefit clients who advisers might not be able to help because advice costs are prohibitive or the adviser does not offer the specialist advice the client is looking for.