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Assureweb poaches Exchange ex-clients

IFA portal Assureweb says it is developing multi-tie solutions for a number of former clients of rival The Exchange.

The provider-owned portal says it has swiped IFAs including Destini, Park Row and Lighthouse Group from under its rival’s nose because it can offer them a more competitive, flexible multi-tie proposition.

Webline recently poached Positive Solutions IFA and Charcol from The Exchange.

But monthly user figures show The Exchange is still out in front with 13,500 regular users followed by Assureweb with 8,000 and Webline with 50,938 log-ons last month from across 13,600 users.

Assureweb head of transaction delivery Stephen Wynne Jones says: “We have developed flexible multi-tie technology that can support these businesses. We have a proven solution we have already put in place for St James’s Place and competitor IFA firms want to see what we can offer them.”

The Exchange spokesman Charlie Musson says: “The range of products that we offer is much wider than the other portals. Are these IFAs going to multi-tie for areas such as protection and look elsewhere for life and pension products?”Webline managing director Paul Holland says: “Everyone would certainly be interested in seeing the Assureweb multi-tie proposition in action. I certainly haven’t seen it and neither have the clients.”

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