Onvestor has revealed two further financial advisory firms have been signed up to its client portfolio as part of its referral service.

The two firms are Forty Hill Financial Solutions and Jay Financial, who will now have the opportunity to refer clients who they consider are no longer viable to support whilst ensuring they continue to have access to a fully authorised advised service. 

Onvestor now has nearly seventy businesses using this service, which was launched in September, with the individual firms agreeing the criteria which determines that a client is unviable for them.

Onvestor says it works with financial advisers throughout the UK to acquire their less-profitable clients and provide them with an ongoing, high-quality restricted financial advice service across a range of financial areas including pensions, investments, mortgages and protection.

All advisory firms also have a revenue share agreement with Onvestor that secures contracted future income and addresses potential regulatory concerns with service delivery to retained client banks.

Forty Hill Financial Solutions is a firm of independent financial advisers based in Norfolk which specialises in savings, investments, protection and pensions, while Jay Financial is a corporate independent financial advice provider based in Linton, Derbyshire, specialising in financial planning for directors and employee benefit schemes.
 
Michael Basi, founder of Onvestor, said: “We welcome these two advisory firms’ efforts to inform the clients they deem unviable about Onvestor’s ability to continue to give them a fully personalised advice service through our referral arrangement.

“It is encouraging to see that advisers trust that Onvestor is strongly committed to guaranteeing appropriate ongoing advice and support.”