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Advisers must now look to technology in order to evolve

1st-The Exchange managing director David Child is urging IFAs to review their technology proposition to enable them to take full advantage of worsening economic conditions.

Speaking at the 1st-The Exchange conference in Coventry, Child says the current financial meltdown is creating a demand for advice “in a way that we haven’t seen before”.

Child says: “Technology is a very powerful enabler. To capture this opportunity we believe IFAs can step up to the mark. They can support customers and indeed the general public at a time of confusion and concern.

“We believe that advisers need to review their systems and processes to remove administration burdens from staff to allow them to get in front of customers. Adviser evolution, its here, its developed, its out there.”

1st-The Exchange, which last month recorded over 27,250 e-business applications, offers e-commissions to 145 firms and evaluations to 19, with AIG and Canada Life currently in the pipeline.

Its e-bulk service has already secured the support of UBS, Cardale and Elevate, with links with BNP Paribas and Nucleus in development.

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