(Psst…this is for UK financial advice businesses only.)
Hard to say no?
Refer them to a home you can trust!
When clients approach you for advice, we know that advisers have “I can help!” as the default position. But giving regulated advice to clients with a lower level of assets can be challenging. According to our research, 98% of advisers say that Consumer Duty has made it harder to serve smaller clients. Adviser capacity is stretched, so what’s the alternative for non-target clients who approach you?
What if there was a place where everyone could get the help and advice they need with their money? At Octopus Money, that’s the challenge that gets us out of bed every morning! We want to democratise access to financial advice.
We do this by reimagining the rulebook, and by using accredited financial coaches to hold the client’s hand through the journey from understanding how they feel about money, using a cashflow modelling tool, and creating a financial plan. Now, here’s the clever bit… we use the tech to deliver the regulated financial advice!
What we can offer
At Octopus, we’re passionate about brilliant customer experience. You can be confident that every client will get a cash flow model from a brand they trust, access to personal 1-to-1 support and great value from their ongoing advice fee. Our all-in fee (including funds, platform, investment management and advice) is 1.15%.
Why refer to Octopus Money?
The Lang Cat Advice Gap Report 2023 showed that 20% of advice firms turn away clients with low asset values, and 50% only serve under strict conditions. It’s always better to say, “we know somewhere you can get the help you need” than turning clients away.
To support your due diligence process, you can find more information here.
What’s in it for you?
We recognise that redirecting clients who approach you, but are outside your target market, may take a few moments of your time, so we’d like to say “thank you.”
Option 1: Affiliate Fee
For every client who signs up to our proposition, we will pay £75. (£1,000 for every 10 clients and £6,000 for every 50). We will also double the payment if the average AuM is over £75K.
Option 2: Charitable Donation
If you’d like to take the opportunity to give back, we can make an increased donation to a charity supporting financial education projects.
Let’s chat!
Choose a time that’s convenient for you. We can chat about your business goals and discuss how we can help.
(Prefer an email first? Get in touch here.)
