Referral Pro is aligned with the FCA’s Consumer Duty guidelines
Legal & General Mortgage Club has introduced Referral Pro, a new referral service designed to assist advisers in catering to the varied needs of their clients in compliance with Consumer Duty regulations.
The tool is set to significantly broaden the scope of services that advisers can offer their clients without requiring advisers to undergo additional training to facilitate referrals across an array of services such as general insurance, protection, wills, trusts, specialist property insurance, specialist health insurance, home emergency cover, and a range of specialist lending areas.
Referral Pro is aligned with the Financial Conduct Authority’s Consumer Duty guidelines, which mandate advisers to explore all possible options for their clients to achieve their financial objectives or to direct them to a specialist if unable to provide counsel themselves.
The initiative, Legal & General Mortgage Club said, is in response to a growing demand for specialist lending options.
“In the age of Consumer Duty, it’s essential that advisers provide a holistic view of the products and services available to a customer to suit their individual needs,” said Clare Beardmore (pictured), director of distribution and mortgage club at Legal & General Mortgage Services. “The launch of Referral Pro will help advisers ensure they can refer customers to the solutions they need, should they not be able to advise them directly.
“Allowing advisers to say yes to more requests will help drive customer satisfaction and therefore improve client retention rates. We’re dedicated to supporting advisers with solutions that help them best serve their customers and look forward to seeing the benefits that Referral Pro can bring.”
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