FinTech: New Referral Portal passes 400-client threshold

Just Refer, a new referral portal for national brokerage Just Mortgages and financial services arm Just Wealth, has supported brokers in referring more than 400 clients for wider financial advice.

Launched in the summer, the Just Refer portal enables brokers at Just Mortgages to refer clients to Just Wealth for pensions, savings and investments advice, as well as support with protection – aiding brokers in meeting their Consumer Duty obligations.

The platform has since expanded, allowing those without the necessary licences to refer clients to a Just Mortgages broker for business protection, equity release and commercial advice. The aim is to help brokers better support their clients, all while providing a clear line of sight for the referrer, better information for the broker or adviser and a frictionless experience for the client. 

Through its relationship with Just Mortgages, Just Wealth has already exceeded last year’s total of over 1,200 referrals from brokers and is forecast to close the year 155 per cent ahead of 2022’s referral total.

Dave Magee, head of wealth at Just Wealth, says: “Since its launch, the portal has proven to be a real win-win, enabling brokers to increase their value to the client and generate additional revenue. Meanwhile, Just Wealth advisers can hit the ground running with access to a higher quality of leads and referrals. Such is its success, we have even had external parties enquire as to whether they too can utilise the platform.

“The brokers at Just Mortgages have always been a great source of new business for our advisers and the increased line of sight only improves that relationship. The new platform has brought greater efficiencies, helping to digitise and automate the process, as well as standardising all the information in one platform for advisers to analyse.” 

Ben Allkins, head of mortgages and protection at Just Mortgages, adds: “As brokers look to maximise their income in the current climate, the ability to refer clients for wealth advice, but also the likes of business protection, equity release and commercial advice is hugely valuable. Not only is it a great option for our employed brokers, it’s a great avenue for those self-employed brokers who may not make the most of completing our licence training programmes. Instead they can refer in-house and benefit from the revenue share. We only expect the number of referrals to increase as more brokers explore the opportunities available.”

During the fact find stage of the mortgage process, brokers have the opportunity to identify wider client needs, such as the requirement for a pension review. 

Through its connection with Just Wealth, brokers can offer a broader service to their customers that covers their financial needs. Just Wealth are then able to send clients back to the original referrer for the next remortgage period.