Bournemouth-based marketing operation The Solicitors Trust is aiming to establish a nationwide network of about 200 solicitors' firms offering advice on a number of matters, in particular personal financial planning.
In return for an annual fee from each member, The Solicitors Trust will spend u10,000 per week on advertising a free-phone service throughout the national press.
Details of a new client will immediately be passed to the nearest participant which will operate within an exclusive area defined by postcode.
Participants in the scheme, which is expected to begin in January next year, can also tap into the expertise of stockbrokers Brewin Dolphin Bell Lawrie.
Marketing director Steve Royal says that the trust has identified a “growing need for a new source of trusted, local and unbiased financial advice” and believes solicitors are ideally placed to fill that gap in the market.
Royal says on top of the exposure of around four advertisements a week in national broadsheets, solicitors would be attracted by “the chance to hook in new clients and obtain a new vein of income”.