Headed by protection specialist Mark Graves, Auxilium Partnership plans to shake up the protection distribution market for networks and mortgage clubs and show intermediaries an alternative way of responding to their clients' protection needs.
Auxilium Partnership, backed by Josewin, the investors behind HLP and Mortgage Support Network, provides a bespoke business to business service offering a tailored suite of protection products to suit the individual needs of its business partners.
However, in a unique move, Auxilium will also proactively support intermediaries in increasing customer awareness regarding comprehensive advice. By consolidating the tools, sales information and articles made available by providers, Auxilium will offer a tailored sales and support process along with guidance on how to give customers the best protection advice. The rollout to individual firms and advisers will be part of a second phase of development during the Spring, with the launch of the Auxilium Protection Club.
Auxilium has already secured the protection business of three networks and a mortgage club, and is currently talking to several other large players.
Mark Graves said, "The UK protection market hasn't met its full potential. The main choke points are access to the right information and the subsequent delivery and dissemination of that information through the adviser market. Our mission is to enfranchise, educate and encourage every adviser in the UK to see protection as the foundation to every mortgage and finance recommendation.
Ultimately, we want to bring change to a market crying out for innovation. Firms and advisers are desperately in need of real support to help them develop a culture where the protection advice customers receive is every bit as thorough as their mortgage recommendations.
We want to establish Auxilium Partnership as the 'go to' organisation for intermediaries looking to proactively develop their protection business. We'll show them an alternative way of looking after their customers, focusing solely on offering the best service for all aspects of the protection sale."
Andy Peters, Distribution Director at Guardian, said, "It's always good to see innovation in the protection distribution space. The real benefit will be when every mortgage client receives protection advice - which would be a big step forward to gaining consumer trust and growing the UK protection market."
Roger Edwards, Marketing Director of Protection Review, commented, "Companies in different parts of the protection market supply chain have always worked well together and closer levels of collaboration all benefit the customer. Auxilium brings another distribution perspective to the industry and we're excited to see how this helps grow the protection market."