View more on these topics

Depolarisation survey sends a warning to IFAs

The IFA channel will dominate distribution in the early years of a

depolarised environment but will lose market share to bancassurers and

e-commerce over time, a new survey suggests.

IFAs are the preferred advice channel for 41 per cent of higher-earning UK

adults, with another 13 per cent saying they would approach a multi-tied

adviser and 22 per cent saying they would consult their bank on its product

range, according to the Mori survey for IBM.

The survey gives a ringing endorsement for face-to-face advice from 80 per

cent of respondents while only 9 per cent would want to receive advice from

a qualified adviser based on a phone call.

But the research sounds a warning for the future with 13 per cent of

30-44-year-olds prepared to get advice on the web compared with just 2 per

cent in the 55-plus age group.

The research suggests bancassurers will do well under the twin effects of

depolarisation and new technology.

Mori questioned 435 adults aged 30 or over with an annual income of

£25,000 or more.

IBM global services insurance principal David Taylor says: “The warning

sign is that those under-45s, who should be tomorrow&#39s IFA client, are not

as loyal. But if I was a bank at the moment I would be rubbing my hands

with glee and chasing the FSA on polarisation.”

Berry Birch & Noble group marketing director Stephen Ingledew says: “When

people get to a complicated situation in life, it is so complex that they

will want to go and get advice.”


Website offers stakeholder admin for 50% commission

Direct-offer stakeholder website is offering IFAsaccess to its online designation, admin and customer services in return for50/50 split of commission. The service allows intermediaries to outsource their stakeholderdesignation and scheme population. is understood to be in talks with financial portalsto boost distribution of the service through the IFA channel. The online service, which […]

Outside Edge – Robert Reid

Earlier this week, I found myself playing golf at the prestigious RoyalBlackheath Golf Club when a sudden downpour sent me scurrying towards mygolf bag in search of my waterproofs. Forgetting that the last time I wore these was in 1990, I quickly put themon, only to convince my playing partner that at some time I […]

Newbury bypasses flexibility with discount

Newbury Building Society has introduced new deal homebuyer, a five-year discounted rate mortgage that calculates interest on a daily basis.The mortgage is available for loans of up to 95 per cent of valuation and has a 0.25 discount for the first five years, giving a current payable rate of 5.74 per cent.It has no early […]

Advice for retiring types

This week, I want to look closer at an area of pensions which is certainto continue to attract an increasing amount of attention and provideendless interest and fees or commission for pension advisers not afraid ofa little additional technical detail, regulatory attention and,consequently, danger. Retirement income planning, until seven or eight years ago, consisted oflittle […]

Get your New Year off to a flying start

Ross Jackson, Senior Marketing Manager There’s no denying that these days we expect things quickly. You might have noticed it first-hand during the flurry and rush of the Christmas period. The fact is that in a world of smartphones, social media and click and collect, most clients expect to get an instant response and a […]


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