Mortgage network and distributor Premier Network Group has launched an introducer service for intermediaries across a range of financial product sectors.
PNG is offering advisers who are unable or unwilling to operate in a number of areas the opportunity to introduce their client’s business to PNG and receive a percentage of the procuration fee. PNG’s introducer manager Roma Bailey is responsible for introducer referrals in the following areas: life assurance, general insurance, mortgages, pensions and investment, and equity release.
Those advisers referring life, GI and mortgage business will have their client looked after by PNG while those pensions, investment and equity release clients will be referred to Trilogy Financial Services, an experienced IFA practice.
Karen Butt, head of group sales and marketing at Premier Network Group, says: “Our range of services to introducers allows advisers to earn commission on business they are unable to place – this may be because they are unqualified in that particular sector or simply want the ease of referral.
“Advisers who introduce to PNG can be certain that their client will be looked after and presented with the appropriate product for their needs and circumstances. In the case of life, GI and mortgage, PNG are able to contact the client, provide the advice, and secure the business while the introducing broker is still able to pick up their percentage of the commission.
“Our partnership with Trilogy Financial Services allows advisers to refer any pension, investment or equity release enquiry through the PNG website. Through PNG’s Introducer service advisers are now able to offer an ‘across the board’ facility for all their clients’ needs even if they do not currently operate in those product sectors. The client does not need to look elsewhere for the advice maintaining a strong relationship with the broker and offering them a new, potentially lucrative, income stream.”
PNG was established as a network in August 2006 and has 23 appointed representative firms, currently containing approximately 40 brokers, and has expansion plans to have 60 AR firms by the middle of 2008.