This follows a soft launch in June with 100 of Openwork’s advisers.
Newcastle IS is initially offering a range of deposit based savings products, including capital guaranteed structured accounts, instant access savings accounts and fixed rate bonds, providing competitive rates of commission for distribution.
Newcastle IS can provide flexible support to portfolio planning, allowing for bespoke products. The firm says it will consider cases on an individual basis.
The website offers a facility for submitting online applications, staged application and commission tracking, online client valuations, a sales toolkit, literature library and an online ordering system.
To benefit those advisers who operate on a fee basis, Newcastle IS also offers the flexibility of a ‘fee rebate’ feature, enabling advisers to forgo some or all of their commission to provide additional allocation to their clients’ deposits.
Senior marketing executive Steve Urwin says: “We are delighted to announce the launch of Newcastle’s Intermediary Service with a wide range of deposit products. Having offered these types of products via intermediaries for some time, Newcastle IS is a natural progression from this, providing a dedicated hub of support and advice for both our current and future intermediary partners. This new service reinforces Newcastle’s commitment to the intermediary market.”