Unbiased, the UK’s leading platform for connecting financial advisers with prospective clients, has today announced a new suite of tools to further support business growth in the industry.
The news comes as Unbiased data shows the British public is seeking first-time financial advice in record numbers, in response to increasingly complex and challenging economic conditions.
In 2023, the platform’s referrals have already brought over £15bn worth of Assets under Management (AUM) into the industry, 75% of which is from investors who have never used a financial adviser before. The ambition for the suite of new features is to build on this trajectory of sourcing existing and untapped business for advisers.
The incoming updates to the Unbiased Pro platform include:
Enhanced mobile features
New enquiries will now be SMS-verified to ensure advisers receive higher quality leads. On submitting their details, consumers will be asked to confirm their mobile phone number by responding to an automated SMS message.
Advisers will also receive smartphone notifications about new enquiries, which they can accept directly, allowing them to quickly act on incoming opportunities.
New products for growing advisers
Alongside its existing enterprise product for nationwide firms, Unbiased will now offer a wider range of plans for financial advisory businesses actively growing their customer base. Firms will be able to choose a level of coverage that suits their size and goals:
- Standard – exposure to leads in a minimum of five UK locations, which has proven to deliver a consistent stream of enquiries to drive growth
- Premium – further exposure, with 20 locations, for larger firms
- Enhanced – nationwide exposure, with up to 50 locations, supporting firms looking to scale their business across the country
Subscription-based model
From 2 January 2024, Unbiased will move to a subscription-based model, under which advisers will purchase a minimum value of credits that grant them access to leads each month. This will be tailored to customers’ actual purchase behaviour, based on their average spend over a three-month period. Whatever their purchase level, advisers will benefit from a reduced cost per lead in the form of a 5% monthly credit boost.
Karen Barrett, Founder and CEO, Unbiased, comments:
“Since we began, we’ve been determined to play our part in closing the advice gap. In the last year we’ve seen the industry grow by 8%, and, at Unbiased 75% of our enquiries have come from people who have never had advice before. Our platform has been instrumental in supporting this shift by removing the complexity from the market and opening up a whole new conduit of business for the advisers we work with.
“To make this possible, we are always innovating our platform. We’re focused on improving the ROI for our customers and offering them even greater growth opportunities, while giving more people than ever access to advice. I’m thrilled to announce our latest suite of features, which will help us deliver on those commitments by ensuring greater consumer intent, improved enquiry quality and, ultimately, a greater number of connections between consumers and advisers.”
The latest updates build on improvements to the Unbiased Pro platform made throughout the year, including streamlining customer onboarding to help advisers connect with potential clients immediately, and enhanced reporting to offer better visibility of performance at a local and national level.
