Former Leadbay head of business development Toby Hughes is launching a direct-to-consumer execution-only website that advisers can join to receive advice referrals.
YourWealth offers whole-of-market access to pensions, investment, protection, savings and mortgage products on an execution-only basis. Clients must seek advice on annuity or tax-planning services. The website offers financial planning tools for customers to analyse their spending.
Advisers can sign up to become a “partner”, paying between £25 and £200 per enquiry depending on the profile of the customer and the complexity of the advice involved. Advisers can also create a profile on the website to promote their services, for which the minimum cost is £2,500 per year. There are plans to develop the website so that advisers can use it as a tool to service clients later in the year.
Hughes says: “We think the best thing is independent advice but we also think it is important to have a direct offering for those who cannot or will not pay for advice.”