A company has been set up in the north-east of England to help independent financial advisers build long-term relationships with clients.
Newcastle-based Wealth Provision has been established by Nick Williams, who has more than 14 years’ expertise in the financial sector, and entrepreneur Richard Fowler.
Williams was previously at Brewin Dolphin and St James’s Place, while Fowler owns a north-east maintenance services company.
The business provides referral generation services to help IFAs secure new work, while also helping consumers to understand the benefits of receiving independent financial advice.
Operating nationally, the start-up aims to “achieve significant growth in the coming years”.
“There was a clear niche in the market for a referral-generating business which aims to produce the best results for both IFAs and consumers,” Williams said. “Our business model is centered around maximising the number of our leads that turn into clients, which is why we want to be represented as referral generators as opposed to lead generators.
“Despite the current pandemic potentially hindering business development throughout the past couple of months, I’m pleased to say we have gone from strength-to-strength.”
Fowler added: “After experiencing the sector from a customer point of view, I wanted to help refine the service to ensure that clients with a lower personal wealth were able to receive advice as easily as clients with a higher personal wealth.
“From a business point of view, lots of lead generators that you pay for are focused on the volume of leads they can provide instead of the quality of each lead. Wealth Provision provide businesses with quality leads which inevitably have more chance of becoming a referral.”
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