IFA uses payingtoomuch.com for non advised clients

By signing up to the PTM Partner Program intermediaries will receive Partner commissions (50% of the commission) on products clients buy through payingtoomuch. Intermediaries will have their own unique logo branded PTM page and links which will identify their clients and ensure they remain protected within their own marketing group.

The PTM Partner Program is a solution to the vagaries of FSA guidance around advice, whether fully regulated or simplified.

The first IFA for which Payingtoomuch is the aggregation partner is Plan Money. The IFA has linked the non-advice website www.plan-money.co.uk it has set up by to meet client’s basic financial needs.

Michael Ward, managing director of payingtoomuch.com, said: "I am delighted to be providing competitive quotes on a whole range of life and general insurance products to clients of Plan Money. This is a way in which Plan Money can ensure its clients get the best deal on insurance where they are not necessarily being advised. It means the IFA can assist the client in a secure and cost effective way.”

Peter Chadborn, director of Plan Money, said: "What we are offering clients and visitors to the website is a non-advice option rather than simplified advice.

"Frankly in our view the model for simplified advice would be so close to full advice in terms of regulation that it is unlikely any advisers will be offering it for now.

"Certainly I am of the opinion that advice is either fully regulated or is not advice at all.”

IFAs and mortgage intermediaries interested should email [email protected]