IFA comparison website VouchedFor. co.uk has relaunched with the backing of four partners, including the Institute of Financial Planning, Fidelity Funds- Network, Nucleus and financial services technology firm Voyant.
Partners do not hold a stake in the VouchedFor business but will provide marketing support to promote the site.
VouchedFor.co.uk was launched by former Barclays Wealth head of digital proposition Adam Price last June.
The website allows clients to rate and review advice they have received. It only lists IFAs who are either exclusively or predominantly fee-based, with advisers who have achieved QCF level four or above differentiated on the site. Any client of a registered adviser can leave a review.
VouchedFor has also recruited former Broadstone Pensions & Investment chief executive and former Close Wealth Management executive David Pitman and property portal Zoopla chief operating officer Doug Monro as business advisers.
VouchedFor charges an introducer fee of between £49 and £299 plus VAT, depending on client assets, for enquiries made through the site which result in a client meeting. There is no charge where clients choose to contact advisers directly. Advisers can also pay a monthly subscription fee of either £15 or £40 in return for more prominent site listings.
Plan Money director Peter Chadborn says: “I would be nervous about people’s tendency to moan in public before they praise in public.”