Threesixty, the fee-based IFA support services provider, says it has already signed up 100 firms and 598 registered individual IFAs to the protection panel it launched on May 3.
The panel offers enhanced commission rates available exclusively to its clients and includes products offered by Legal & General, Friends Provident, Scottish Provident, Scottish Equitable Protect, Standard Life and Scottish Widows.
The panel covers term assurance, critical illness and mortgage protection plans.
lt is a new, free service for threesixty clients. A free quote system for the panel is also available, powered by Assureweb, training for which is also provided free of charge.
It does not compromise an IFAs independent status. Providers are filtered from a rigorous and fair assessment of the whole of the market. They are selected for competitiveness of premiums, quality of service level agreements and complaint histories. Providers who fail to meet the required standards are removed and replaced. The panel is reviewed quarterly.
Using the panel does not mean IFAs will be enhancing their commission at the expense of clients because only products that have rates that are competitive on the open market are made available.
David Ingram, a partner at threesixty, says: We are very pleased with the rapid take-up of our protection panel. To have had such a successful take-up of the panel in the space of just eight weeks shows that threesixty has hit the mark with yet another of its services and demonstrates how a well-researched, independently maintained product panel is highly valued by IFAs.