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Davy challenge starts portals&#39 storm

DBS chairman Ken Davy is throwing the gauntlet down

to The Exchange by predicting Misys&#39 acquisition of DBS will deliver the number one portal for IFAs.

In an article in this week&#39s issue of Money Marketing, Davy says: “I believe the Misys/DBS combination will deliver a portal of choice in the advice market. Many IFAs say they are hungry for something better than the existing offering which dominates the electronic quotation market.”

Davy, who says he is to stay at the helm of DBS, claims Assureweb&#39s planned delivery of an electronic trading platform linking to back-office systems will give IFAs the seamless advice process they need.

But competitors claim, regardless of whether Assure-web or m-link survives the merger, market dominance is unlikely as different types of IFA want different portal solutions.

The Exchange managing director Jim Gaskin says: “Our key strength is our independence. We do not own distribution, which means we have to develop products and services that meet IFAs&#39 needs rather than forcing them to use what we decide is best for them.”

Torquil Clark investment strategist Philippa Gee says: “It will require something major to effect a major change on the workplace and they do not seem there yet. What they do is good but they are not going to achieve world domination.”

l Davy, p12

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