Zopa to target its 'social lending' at IFAs

Zopa, which stands for Zone of Possible Agreement, was set up in March 2005 and is an online marketplace allowing people to lend and borrow money between themselves to get a better deal and by cutting out the banks. The firm says as the ‘social lending’ market is worth around £800bn advisers are missing a significant opportunity, so the campaign, in conjunction with Synaptic Systems, is designed to attract advisers by offering IFAs who introduce a 'lender' to Zopa 0.2% commission of all the money lent by that client, along with a minimum £50 commission payment for each client. As an a...