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'Best clients come from referrals': Advisers' experiences with lead-gens

They added: "Despite this variable pricing, Unbiased sees the strongest demand for our leads with the highest asset values."

The firm also disputed that the quality of leads had declined. The spokesperson added: "Unbiased’s growth as a business depends on the success of our customers and we carefully monitor the quality of our enquiries.

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"We pass each enquiry through nine different quality control checks, including our most recently launched: SMS and phone number verification."

VouchedFor was contacted for comment.

alina.khan@ft.com