IFA review service to include companies

A new website allowing clients to rate their financial adviser will soon allow company reviews – even if the firm does not consent.

VouchedFor.co.uk aims to boost advisers’ online presence and generate new enquiries for them. Roughly 250 advisers have registered so far.

Any client can rate their IFA, but the relationship must be verified and the adviser has to agree to feature on the site before reviews are published. Founder Adam Price plans to extend this to firms within the next few months and they will not have to consent for reviews to appear.

“When you’re looking at individual advisers I don’t think it is right, fair and appropriate that they are named and shamed if they don’t want to be featured,” he said. “For firms, that is different.”

Advisers can be a member for free until a meeting is booked through the site, when membership becomes £10pm. There is an additional cost of £79 to £299 plus VAT for each referral. Alternatively, advisers can join as a premium member for £60pm with no referral fees.

David Crozier, owner of Belfast-based Navigator Financial Planning, registered on the site and has two reviews. “A couple of clients have left reviews at my invitation,” he said. “I must admit I’m a bit sceptical about the possibility of anyone leaving an unprompted review.”