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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.”

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