Perceived expense and difficult implementation are the key barriers to financial services firms using adviser extranets, according to a survey by Focus Solutions.
The survey, carried out in conjunction with Sun Microsystems, surveyed a sample of 35 attendees of Focus’ July event entitled Enabling true multi-channel delivery Extranet services of the future”.
Key objectives for implementing an extranet for intermediaries are cited as the desire for a quicker, more efficient sales process.
This reason was closely followed by the need to improve relationships with clients through increased brand loyalty.
Product providers said that IFAs made up 25 per cent of their target markets, followed by 20 per cent call centre staff, 15 per cent packagers and brokers, 13 per cent consumers and 11 per cent underwriting staff.
Focus Solutions director of mortgage and general insurance solutions Manjit Rana says: The fact that providers are thinking outside the box when it comes to putting together their solutions business requirements and acknowledging the wide range of users, is great news for the industry.”