Former Sesame Bankhall MD Mark Graves and Josewin, the investor behind HLP and Mortgage Support Network, have launched Auxilium Partnership a business-to-business service that tailors protection products for its partners.
By consolidating the tools, sales information and articles made available by providers, Auxilium aims to "shake up" the protection distribution market by providing a sales support process along with guidance on protection advice to intermediaries using the service.
It has already secured the protection business of three networks and a mortgage club, with three other currently in discussions regarding the proposition. A rollout to individual firms and advisers is expected as part of a second phase of development, during the spring, with the launch of Auxilium Protection Club.
"The UK protection market hasn't met its full potential," said Graves, who left Sesame Bankhall as managing director to join HLP and Mortgage Support Network as chief operating officer in September.
"The main choke points are access to the right information and the subsequent delivery and dissemination of that information through the adviser market. Our mission is to enfranchise, educate and encourage every adviser in the UK to see protection as the foundation to every mortgage and finance recommendation.
"Ultimately, we want to bring change to a market crying out for innovation," he added. "Firms and advisers are desperately in need of real support to help them develop a culture where the protection advice customers receive is every bit as thorough as their mortgage recommendations.
"We want to establish Auxilium Partnership as the ‘go to' organisation for intermediaries looking to proactively develop their protection business. We'll show them an alternative way of looking after their customers, focusing solely on offering the best service for all aspects of the protection sale."
Andy Peters, distribution director at Guardian FS, said, "It's always good to see innovation in the protection distribution space. The real benefit will be when every mortgage client receives protection advice - which would be a big step forward to gaining consumer trust and growing the UK protection market."
Roger Edwards, marketing director of Protection Review, added: "Companies in different parts of the protection market supply chain have always worked well together and closer levels of collaboration all benefit the customer. Auxilium brings another distribution perspective to the industry and we're excited to see how this helps grow the protection market."
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