Protected Trust Services is to launch a “new-style consortium” for experienced agents who want to be “masters of their own destiny”.
PTS, which started as a Package Travel Regulations compliance service for operators in 2006, is to hold open days as it looks to take on at least 120 agents in the next year.
It bills itself as a consortium for established, independent agencies that do not need marketing support or training but want the financial and technology “scaffolding” to support their businesses and the freedom to work with any supplier.
Agents must have at least two years’ experience to join.
Managing director Daniel Landen stressed PTS was not in the business of “poaching” agents from rival consortia, but admitted its model may cause “ripples” among traditional consortia.
He said: “There are a plethora of consortia throughout the UK offering incredible solutions to start-up and experienced agents.
“Some agents like the existing consortia model with huge amounts of marketing support and academies for training; this is not the market space PTS is touching.
“Our intention is to only offer a solution to experienced agents who would like to retain 100% commission and have the capacity to run their own business.”
PTS operates a trust account, rather than a bond, and is registered with the Financial Conduct Authority. It has an Atol franchise, which allows members to apply for an Atol using the PTS trust fund in place of a bond.
It charges a £999 joining fee and a monthly licence fee of £99 for the technology and trust account and an annual membership fee of £200.
PTS charges a transaction fee – £20 per booking on average – instead of taking a cut of agents’ commission. Agents can work with any operator, as well as with more than 100 PTS-approved suppliers.
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