View more on these topics

Bankhall seeks to grow in deal with Exchange

Bankhall and The Exchange have signed a partnership deal that will see the latter&#39s Exweb portal white-labelled as IFAengine for Bankhall members while Exchange users will be targeted with Bankhall services.

IFAengine users will get Exweb&#39s comparative quotation and electronic new business services as the portal moves towards electronic commission and compliance systems. Bankhall members will also be offered The Exchange&#39s Officeweb back-office system.

Bankhall parent Skandia has pushed the deal forward as the IFA services provider shapes its strategy for rolling out technology offerings for multi-tie distribution.

The other side of the deal will see a New Year marketing drive aimed at The Exchange&#39s 4,500 directly-regulated members that Bankhall believes could swell its 6,000 RIs by 2,500 within 18 months.

Bankhall will offer Exchange users compliance, commission and business development packages that could see better commission rates for business conducted online.

Skandia IT director Tim Mann says: “After buying Bankhall, we thought it best to buy in a comparative quote service to progress the portal in areas IFAs wanted such as e-commission, e-compliance and aggregation.”

Bankhall commercial director Stuart Pender says: “We are hoping to sign up more than 50 per cent of the 4,500 directly-regulated users of The Exchange.”

Financial Technology Research Centre director Ian McKenna says: “We need to see a third solution as an alternative to the two technology companies, Misys and The Exchange&#39s parent Marlborough Stirling, that are emerging in the market.”


Ebenezer Scrooge

Entering the office of London-based IFA Scrooge & Marley, you find co-founder Ebenezer Scrooge sitting at his tall desk, quill in hand, reconciling commission payments.Scrooge, on first impression, looks every bit the general public&#39s impression of a miser. But a closer examination of his life story reveals that it is the regulator which has made […]

Isas buck trend as net retail sales rise again UK funds suffer their biggest fall since 1990

Net retail sales of investment funds increased to almost £500m last month but Isa sales slowed to less than £225m, according to the Investment Management Association.The IMA&#39s monthly figures show that, while net retail sales rose to £493m in November from £453m in October, Isa sales slipped to £224m from £238m.Investment funds under management last […]

The industry&#39s comings and goings

Farewells across the financial services sector include Howard Davies, who turned down the job at the Bank of England for a job at the London School of Economics, departing Sofa chairman John Porteous, who is going to concentrate on his heavy-metal air guitar technique, and departing Aifa chairman Lord Hunt of the Wirral.The Misys household […]

Questions for the Chancellor on negative policy

In response to the Government&#39s disposition towards financial products with little or no profitability for the distributors, perhaps the readers of Money Marketing would be interested in the following letter which I have sent to the Chancellor of the Exchequer.I wonder if the Chancellor and the great and good at the Treasury really have any […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm