IFA firm Plan Money is launching a non-advised proposition, Plan Direct, which will refer clients to comparison website PayingTooMuch.com for protection products.
Plan Direct will be available from January and will offer clients a route to buying protection products directly.
Plan Money and PayingTooMuch.com are currently working on a commission share arrangement which has yet to be finalised.
The firm aims to add non-advised investment and annuity options to Plan Direct in the future.
It says it will promote the advised and direct sides of the business clearly to ensure clients are aware of the differences between the two.
Plan Money co-director Peter Chadborn (pictured) says: “We want to enable clients to jump on and off the advice train according to their preference, and not force them through regulatory hoops for what they perceive to be simple transactions.”
Baronworth Investment director Colin Jackson says: “It is important for firms to make sure they can give clients a direct offering for those who do not want the full advice option. This is going to become more and more important for advisers to be able to offer.”