Advisers back directories after 'cash cow' comments

Sense Network development manager Phillip Bray said some advisers had alleged directories such as Unbiased and VouchedFor were trying to increase their turnover by referring consumers to multiple advisers. The advisers, who pay for client referrals by the directories, felt they were being treated as "cash cows" with little prospects of securing quality business, he said. However, after conducting a mystery shopping exercise at both Unbiased and VouchedFor, Bray concluded in a recent blog post for Professional Adviser that there was no evidence either directory encouraged consumers to ...