London-based Onvestor, the appointed representative of IFA Basi & Basi, has appointed account manager Darren Fletcher to meet what the company describes as ‘unprecedented’ demand.
Onvestor provides a restricted advice service via Skype for clients not considered viable for ongoing advice from an IFA.
Fletcher has over eight years’ experience in financial services.
He previously worked at CoInvestor Technologies as business development manager. Before that, he worked for Intelliflo and Partnership Assurance Group.
Michael Basi (pictured), founder and chief executive of Onvestor, says there has been an influx of advisers expressing interest in the service.
“This is a hugely timely appointment as we have received unprecedented demand from advisers of all sizes and we believe he will be invaluable in ensuring individual clients continue to receive appropriate advice and support.
He says Fletcher will be responsible for “the speedy onboarding process of advisory firms” looking to use the referral service.
Onvestor says it currently has over 65 advice firms using the service and is processing requests from a further 48 firms. The individual firms decide at what level of wealth they consider a client to be unviable and then refer them to Onvestor which has a revenue share agreement with the firms.
Among its clients are support services provider Simply Biz, Shropshire-based Midland Financial Advisers and Assured Financial Planning in Harrogate.