The update enhances the aesthetic options available to brokers and allows the system to be embedded on a firm’s website.
Brokers can now choose from different page layouts, change colours to fit their own branding, include their company logo, select background images and add their choice of products.
Founded in 2009, SortRefer which also provides conveyancing and other ancillary services to brokers, has had its white labelling offering available for a number of years.
The product allows brokers to use their own website to create direct quotes for their clients, with the information feeding directly into their case manager, providing their clients quotes for conveyancing, surveys and other SortRefer products.
The popularity of white label products has grown exponentially in recent years.
Back in 2021, in a survey of 218 advisers with assets under management of £250mn or more, almost half said they planned to launch a platform.
The key driver for change was a desire to boost operational efficiencies, improve the client experience, exert more control over price and capture margin.
More recently however, advisers have been warned to be cautious when going down the white labelling route.
In October last year, Transact’s chief executive Jonathan Gunby said advisers considering white labelling to cut costs to clients should be careful not to simply “move costs around”.
Gunby told FTAdviser at the time that IFAs might be able to buy in a white label platform for 10 bps, but will quickly realise another 10 bps or more of costs have to be added on top to implement the technology and manage it.
jane.matthews@ft.com
