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1st – The Exchange see IFAs’ rapid uptake in e-services

Over a quarter of advisers have seen at least a 50 per cent increase in efficiencies since adopting e-services, revealed by 1st – The Exchange.

Research from a recent series of e-Service roadshows, questioning over 100 advisers, asked about their use of e-commerce.

1st – The Exchange says since launch four months ago, 20 adviser firms are now regularly using the 1st – The Exchange e-Valuation service and 171 advisers are signed up to 1st – The Exchange e-Commerce service, linking to 23 providers.

Almost half – 45 per cent – the advisers saw better client service was the most important feature of e-services, while 30 per cent felt the biggest benefit was cost-cutting impact for the firm.

While 19 per cent think it is the ability to reduce errors within their businesses, just 7 per cent said faster commission payments were the most important factor.

1st – The Exchange sales director Richard Goodall says: “The results from our online polls and roadshows have clearly demonstrated the extent to which advisers have started to reap the benefits of using e-Services within the business process.

“With growing regulation and the December deadline to evidence TCF principles, the efficiencies afforded by using e-services are becoming increasingly important. This early progress is encouraging, but more hard work lies ahead.”


Mortgages remain outside RDR

The FSA has ruled out implementing the RDR in the mortgage market in light of current conditions but is keeping an open mind for the future.


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