CashCalc is offering its transfer value comparator (TVC) and appropriate pension transfer analysis tool (APTA) for £1 per month in an effort to poach customers from competitors.
The adviser-owned cashflow technology provider said its Christmas offer was aimed at those already “tied in” to contracts with other cashflow technology providers, who would then be able to use CashCalc alongside their existing provider for £1 per month.
The £1 deal would remain active until the existing contract with a CashCalc rival ran out, it added. Both existing customers using CashCalc alongside another provider, and those new to the cashflow firm, are eligible to claim the offer.
CashCalc was developed by Newport-based Chartered financial planner Ray Adams. To launch its TVC/APTA tool, the technology provider teamed up with ex-Financial Conduct Authority man Rory Percival, who is now a consultant.
Adams said: “One of our very loyal CashCalc users tried our TVC tool, absolutely loved it, said it was brilliant and easy to use, but they weren’t going to upgrade because they were tied into a contract for another six months with another provider. As soon as that contract was over they were going to come back to us.
“I thought that was mad, so we just said to them ‘why don’t you stay with us as well, but we’ll just charge you £1 a month for the duration of your other contract’ – and I have decided to extend that to everybody.”