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

Aveni forms AI advisory board with wealth management leaders

Aveni forms AI advisory board with wealth management leaders

Senior execs from Aviva’s Succession Wealth, Schroders Personal Wealth, 7IM and Rathbones join forum

Sahar Nazir
clock 01 July 2025 • 2 min read
Majority of UK wealth management sector eyes acquisitions this year

Majority of UK wealth management sector eyes acquisitions this year

Continued appetite and momentum in M&A space

Isabel Baxter
clock 30 June 2025 • 3 min read
How can firms improve client engagement with wealth products?

How can firms improve client engagement with wealth products?

Consumer first focus; Simplifying prodcut information

James Wood
clock 30 June 2025 • 4 min read