The IFA is increasingly encouraged to get a presence on the internet, where one sees more and more competition offering no commission deals, which will surely assist in the demise of the smaller IFA.
Yesterday, I had an email offer to log on to a “must-read for IFAs” site offering news and fund research. I click on Find an IFA and I get an array of banners and links to other sites where I can purchase from my competitors. Assureweb offers a free website with a link to a news page from which the IFAs' visitors may go off into other areas, buying products direct or even through other large IFAs.
Fidelity encourages us to use their FundsNetwork while our clients can go direct with no initial commission. It is high time IFAs turned their backs on product providers that happily take their business.
As for FundsNetwork, CoFunds, with their clear information, helpful staff and a dedication to the IFA community, gets my vote. Fidelity just did not seem interested in CB Financial Services.
Claude Laugier CB Financial Services,