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Switching referral service for IFAs

Online pension adviser is offering a pension-switching referral service for IFAs. offer an identical service to, where clients are offered a free online report with a recommendation on any pension transfers before they decide to deal with the adviser. charges a minimum £750 fee to the client on a sliding scale by fund value. The IFA introducer gets a fee dependent on the size of the transfer. founder Douglas Baillie says the website will be able to cope with small pension pots due to its low overheads. He says: “Offering an online proposition means the client is not threatened or coerced, there is a distance and all the decisions are theirs.”

Research by Comparemy found 70 per cent of its clients had their pension costs reduced by switching.

Baillie says: “The big issue is charging. Doing business online is the key to our proposition as it reduces costs for the pensionholders.”


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