Consumer finance proposition launches

A consumer finance proposition called "If I Were You" has been launched by former Virgin Money UK managing director Rob Clifford and ex-Egg and First Direct boss Paul Gratton.

"If I Were You" is described as a financial "concierge" which will offer guidance on unregulated products and put consumers in touch with selected brokers for products such as mortgages, pensions and investments.

The service will also allow users a forum in which they can give online feedback on products and advisers they have used. There will be payment options for consumers which will include the opportunity for commission rebates or to pay for the service by subscription.

It will initially cover mortgages when it launches on Monday and will link to Scottish mortgage brokerage MoneyQuest for mortgage advice which is Gratton's other mortgage business. 

Gratton said the launch will guide consumers to advisers and to simple products. He added that consumers want a reliable source of information and referral to help manage money.