Blog: Are adviser directories treating IFAs as cash cows?

How adviser directories refer clients

clock • 6 min read

It has been suggested directories look to increase their turnover by referring consumers to multiple advisers, causing unnecessary disruption at the other end. But is it true? Phillip Bray finds out

Sense Network's survey comparing Unbiased and VouchedFor has only been running for a few days, but it is already highlighting some interesting issues and very strong opinions. A number of respondents, particularly those who use neither directory, have suggested that both Unbiased and VouchedFor increase their turnover, and reduce advisers' potential conversion rates, by either recommending enquirers contact multiple advisers or selling the same enquiry to more than one adviser. Of course, consumers have an absolute right to shop around for the right adviser, but I believe most adviser...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

March 2024: Month in review with deputy editor Jenna Brown

March 2024: Month in review with deputy editor Jenna Brown

Take a look at some of the news and feature highlights of the last month

Jenna Brown
clock 28 March 2024 • 5 min read
Wren Sterling adds £265m in client assets in latest deal

Wren Sterling adds £265m in client assets in latest deal

First advisory firm purchase of 2024 for national financial planner

Jenna Brown
clock 28 March 2024 • 1 min read
Consumer Duty Alliance looks to attract advice industry talent

Consumer Duty Alliance looks to attract advice industry talent

New Talent Alliance will be chaired by M&G Wealth Advice MD Tom Hegarty

Isabel Baxter
clock 27 March 2024 • 2 min read