Everyone knows about the ‘big three’; VouchedFor, Unbiased and AdviserBook, but there are several smaller directories which not all advisers and planners are aware of.
So, being helpful souls, we thought we’d create a comprehensive list. A directory of directories if you will!
If we’ve missed any off, please let me know. Hopefully, this will become a useful resource to ensure you and your business is included on the right directories.
Thousands of consumers use directories to find a financial adviser or planner each year. That makes them a really useful way for firms to find new clients.
‘The big three’
A directory of financial advice and planning firms. Consumers can search the directory or answer a series of questions to be matched by Unbiased to a financial adviser or planner.
Independent financial advisers and Restricted (Whole of market advisers) can be listed. Restricted (Whole of market) means that advisers/planners can provide whole of market advice only on certain types of products. Advisers/planners who are restricted by provider and are unable to go off-panel cannot be listed.
Unbiased offers three membership levels.
Free: No charge, however you won’t automatically appear in the search results
Lite: £29 plus VAT per month with enquiries charged at £45 plus VAT each
Plus: £59 plus VAT per month, with one free enquiry per month and subsequent enquiries charged at £45 plus VAT each
Click here for more details of the pricing plans.
VouchedFor is a directory of individual financial advisers and planners. Consumers can search the directory for professional advice and rate their financial adviser/planner. For advisers and planners, it offers a suite of tools to help them manage their reputation and generate referrals from existing clients. Both independent and restricted advisers can be listed.
VouchedFor offers two levels of membership.
Verified: £45 plus VAT per month with varying enquiry limits based on the minimum level of wealth of the enquirer.
Unlimited: £45 plus VAT per month plus a variable fee, dependent on the enquirer’s level of wealth.
AdviserBook is a directory of individual financial advisers, planners as well as firms themselves. Consumers can search the directory and then contact the adviser, planner or firm of their choosing. Both independent and restricted advisers be listed.
There is currently no cost for being listed.
The smaller directories might not have the clout or market share of the ‘big three’ however they could still prove extremely useful for many consumers, advisers and planners.
Less information is known about many of these. We’ve asked, but currently it isn’t that easy to get answers. So, here’s the list, we’ll update it as and when we know more.
The PFS Find an Adviser
A directory of PFS members which consumers can search based on location.
CII Chartered Firm Directory
A directory of Chartered firms which consumers can search based on their location and the type of advice they require.
Both restricted and independent firms can be listed. There are no direct costs for being listed. However, there are costs associated with becoming a Chartered firm.
CISI Way Finder
A directory of Accredited Financial Planning firms and individual Certified Financial Planners. Consumers can search by postcode and distance.
Society of Later Life Advisers (SOLLA)
The SOLLA directory lists financial advisers and planners who specialise in advising clients about the issues they face in later life. To be listed in the directory advisers/planners must have voluntarily undertaken a very robust assessment that underpins the Later Life Adviser Accreditation qualification.
Both independent and restricted advisers can be listed and consumers are given a choice of which to search for.
A directory of Resolution members who provide advice to people going through divorce or separation. There are no explicit costs to be included, however Resolution membership attracts an annual fee.
The SIFA directory is aimed at solicitors and provides a list of advice and planning firms who specialise in working with professional connections.
There is no explicit fee to be listed, however, inclusion comes with SIFA Professional membership and is not available to non-members.
The Money Advice Service
A general directory of firms which consumers can search based on their location, the style of advice they want to receive and the type of advice they require. To be included firms must advise on retirement planning and offer ‘whole of market’ advice.
Only firms which offer independent advice can be included.
Hopefully, this list is useful.
We recommend advisers, planners and firms take three key actions:
- Ensure you are listed on the appropriate databases
- Review existing profiles to ensure they are up to date; it’s easy to forget updating your address after an office move on a directory you listed on years ago
- Monitor the enquiries you get from each one and take action based on what you find
As always, we are here to help.
This article was originally posted on The Yardstick on 6 February 2020.
By Phil Bray, Yardstick