Unbiased has made changes to its subscription fees, increasing them by 7.5 per cent on average.
Unbiased offers services which connect clients to financial advisers, mortgage advisers and accountants.
The firm said it has adjusted its pricing due to the rising costs of providing its services. It has also made changes to enquiry pricing.
However, due to difficulties in the housing market at the moment, Unbiased said it has not increased pricing for mortgage brokers.
An Unbiased spokesperson said: "We're pleased to report that over the past year, Unbiased has brought over £15bn assets under management into the industry, 75 per cent of which is from consumers who have never used a financial adviser before.
“We continue to partner with high-growth advisory businesses delivering consistent volumes of high-quality enquiries, enabling them and the industry as a whole to grow efficiently.”
The firm said it has protected customers from mounting supplier costs during 2024, and continues to invest in its platform to help customers grow their businesses.
New features include: mobile and desktop enquiry notifications, SMS verification on enquiries, increased account security and inclusive subscription credits.
Unbiased will shortly launch an integration with Intelliflo, an enhanced performance dashboard and a real-time ROI calculator.
Background
Back in January, Unbiased moved to a subscription-based model where advisers buy credits which give them access to leads each month.
An example would be an adviser who sets their wealth level at £50,000 as a minimum and has three to 20 locations, costing between £594 and £3,960 in monthly subscriptions. Although this would now cost more due to the recent increase in pricing.
This came after price changes in September 2023, which some advisers claimed favoured larger firms.
Financial advisers used to be charged £45 for each enquiry they successfully accepted, but now Unbiased charges financial advisers a monthly fee.
At the time, boss Karen Barrett, said Unbiased's move to a subscription-based model was a reflection of how the industry has changed.
She told FT Adviser: “There is a shift from the one-man band on the high street, to much more scaled-up businesses with different areas of expertise.
“Unbiased has a common goal with advisers and some of the people who are negative about our business haven’t been customers for five years.
“[These changes] are the way forward that will support growth and will set advisers up for success."
amy.austin@ft.com
