Adviser to build claims referral website using crowdfunding
A crowdfunding campaign has been launched by a Charter Financial Planning-aligned adviser in an effort to raise funds for a referral website that would connect clients with advisers who offer pro bono insurance claims services.
Speaking to ifa's sister publication, Risk Adviser, Michael Baragwanath of Charter Financial Planning-aligned practice Enva said advisers are the "best first point of call" for helping with an insurance claim, and the site would help draw more attention to which advisers can help.
"We need to get better at letting the community know that we can help," Mr Baragwanath said.
"I've seen examples of law firms charging in excess of $25,000 to secure a claim," he said.
"Once I investigated the details of one example: The client had a clear-cut situation where he was disabled due to mental illness.
"Did the client need to see a lawyer? Maybe, maybe not. The important point is that they were not even aware that an adviser could help at all and thought they had to either go it alone or get legal assistance," he said.
"The legal profession has an important role to play in achieving an outcome for clients; in my experience, it's best that an adviser work with a lawyer but only once the standard claims process fails."
According to the campaign – which is being conducted via Go Fund Me – the website, Claim Connect, will have a list of advisers willing to help people, free of charge, with their life insurance, disability or income protection claims.
However, the campaign description adds that advisers are able to charge a client for advice on what to do with the money.
Overall, the campaign is looking to raise $2,500 for the building, hosting and promotion of the site.
The site for the campaign can be found here.
Dealer group launches compliance platform
Advice licensee Industry Fund Services has partnered with fintech firm Advice Re...
MLC advisers left in the dark on restructure
MLC has withheld critical information from advisers about the new roles, salarie...
FSC calls for simpler tax regime for advisers
The Financial Services Council has called for the current regulatory regime for ...