The abolition of polarisation is not a threat to IFAs, according to Misys IFA Services.
Misys says IFAs will merely have to adapt to the changes to the polarisation regime as it believes consumers will still demand independent advice Announcing Misys software group's interim results, chairman Kevin Lomax said planned changes to polarisation and the launch of stakeholder are good for its insurance division, which includes Misys IFA Services.
Misys has 4,200 member IFAs representing 18 per cent of the IFA community.
Misys corporate communications director Alastair MacDonald says its IFA network is of a high enough quality not to feel threatened by depolarisation.
He says the technology in which Misys has invested will help its network members increase profitability and, because providers will be fighting to keep their share of the market even in the event of multi-ties, good IFAs will not be adversely affected.
MacDonald says: “We have not had a huge cry of concern from members who are worried about depolarisation.”