Q. Who are thinkengine and what do we do?
A. thinkengine acts as an Introducer for a number of IFAs who can help you with financial or lifestyle products.
Our sole aim is to offer the British consumer the opportunity to take advantage of the best offers on the market. Too many of us are paying too much and just don’t realise it.
Q. What is an IFA and what do they do?
A. It stands for Independent Financial Adviser and they offer advice on most of the financial service products in the market.
If they are truly independent, they can offer you advice from every product on the market and are not tied to any one lender or financial organisation. They must also offer you the option to pay a fee for their services.
Q. Is there any fee to the consumer for taking any of the thinkengine Challenges?
A.
No. The consumer will not pay thinkengine for taking the challenge. We act purely as an Introducer. You will not be charged by an IFA for the initial consultation. If the IFA is truly independent you can have the option of entering into a fee-based agreement with them. In some circumstances, commission may be paid to the IFA by the product provider. The IFA must explain the fee or commission terms clearly during the product application process. This is normal practice for IFAs and they must follow rules and regulations defined by the Financial Services Authority and issue you with a Key Facts Document about their services.
Q. Is the consumer under any obligation by taking a thinkengine Challenge?
A. No. The consumer can change their mind at any time and ask thinkengine, or the IFA who has been passed their details, to stop the ‘Challenge’ process. Once the consumer has been contacted by the IFA, thinkengine has no further involvement with the consumer.
Q. Does thinkengine promote its own financial products?
A. No. thinkengine does not promote its own products, it is not permitted to do so by the Financial Services Authority. That is why thinkengine has partnered with other organisations to bring this service to the market. thinkengine, together with Fender Sturrock, will only be capturing consumer data and passing that data in the form of leads, to its partners.
Q. Are the partners of thinkengine tied to particular lenders?
A. No. thinkengine has chosen partners who have access to a ‘whole-of-market’ range of products. This means they do not provide pre-defined products or are biased to particular product providers. As a result, the consumer is more than likely to get the best product for their individual needs.