Adviser Ratings has signed a referral partnership with online networking platform for small businesses, Small Business First (SBF), to provide small businesses access to financial advisers on its platform.
Leveraging SBF's 500,000 businesses under the deal, Adviser Ratings said a large portion of its 23,000 advisers who fit specific skills, professional and geographic location criteria would accept referrals for small businesses wanting financial planning services.
Adviser Ratings managing director, Angus Woods, said small business owners and their employees comprised of up to 70 per cent of the workforce.
"Not only a win for small businesses, the referral scheme also provides select Adviser Ratings advisers with a stream of new business opportunities within their local region/area — a great incentive for specialists already on, or looking to join the platform," he said.
SBF managing director, Rajhev Rajkumar, said financial planning was one of the biggest challenges for small businesses.
"It can become stressful at times which is why it's critical for small businesses to think about financial planning from day one, if they want to succeed in the long-term and keep their staff happy," Rahkumar said.
The referral scheme would come into effect on both the Adviser Ratings and SBF platforms from early December.
SBF was backed by David Koch, who was also an investor in Adviser Ratings. Koch was a founder of Money Management.