Relevant to:
2-3 clients per adviser a year (on average).
Advisory or non-advisory?
Non-advisory.Â
What TorFX do:
TorFX provide reliable, secure, cost-saving international money transfers for private and business clients.
What this service is for:
Making bank-to-bank payments from one currency to another.
What this service is not for:
Exchanging cash (holiday money etc.).
Speculative trading.
When your clients would use this service:
Any time they need to make or receive a bank-to-bank payment over £100 (no maximum payment amount).
Typical private client needs: Property purchase/sale, overseas investment, pension payments, emigration, overseas living expenses, salary repatriation.
Typical business client needs: Supplier payments, business invoices, repatriation of overseas revenue, treasury exchange, hedging against currency volatility.
Why would clients switch to this service?
Banks traditionally charge transfer fees on every international transaction and give poor rates of exchange. TorFX, meanwhile, provide a completely fee-free service and highly competitive exchange rates. They also offer dedicated account management and expert analysis of the latest market movements.
What can they do?           Â
- 60+ currencies
- Send/receive payments across 100+ countries
- Spot and forward contracts, limit orders, stop loss orders, regular payment service, rate alerts
- Best rate guarantee
How do they make their money?
TorFX purchase currency from the interbank market and apply a margin before selling on to their customers. They apply a smaller margin than other providers, resulting in a more competitive exchange rate.
Benefits for your clients:
- No transfer fees
- Bank-beating exchange rates
- Transfer online, through the TorFX app or over the phone with a personal account manager
- Swift, secure, reliable transfers
Benefits for you:
- Profit share on each of your referrals’ transactions
- Non-advisory service, so easy to start making referrals
- Your own referral Account Manager to provide you with updates on your clients and monthly support
Why clients trust TorFX
- Four-time winner of the Consumer Moneyfacts Best International Money Transfer Provider award (2016-2019)
- Three-time winner of the Consumer Moneyfacts Best Customer Service award
- Excellent Trustscore on Trustpilot with over 2800 reviews
- Authorised by the FCA as an Electronic Money Institution (900706)
- Highest level of creditworthiness with Dun & Bradstreet
- Safeguarded client accounts with Barclays
- Compliance conducted on every client registration, transaction and beneficiary
- Their FX group is the largest in Europe
Got questions? Have a client this could be relevant to? Have your own requirement?
Access IFAMagazine preferential rates by contacting the TorFX Partnership Team on (+44) 01736 335740 or businessdevelopment@torfx.com
