View more on these topics

Exchange aims for flying start with multi-ties

The Exchange is planning to steal a march on rival portals by rolling out its multi-tie deal ahead of depolarisation.

The trading platform says it is announcing its plans now so companies planning to multi-tie can have fully functioning technology as soon as regulation is finalised.

The portal is in advanced discussions with six IFA groups who are looking at how they will offer a multi-tie proposition and which providers they will work with.

The Exchange plans to offer two services – one geared towards distributors, allowing them to build a platform to attract their chosen providers and the other for providers, allowing them to white-label a platform to use under their chosen brand.

The services will be offered through the Exweb platform, which already has 20,000 users. The services will include company specific and comparative quotes and end-to end e-trading.

The Exchange chief executive David Child says the key selling point will be flexibility. He says it will be crucial for distributors to be flexible about the providers they are offering on their panels after the dust settles, so technology will have to allow companies to switch quickly and easily.

Child says removing the initial start-up costs will give companies speed to market and enable them to offer competitive business terms to attract distributors to their multi-tie quickly.

He says: “Companies that are looking to benefit from first mover advantage in the multi-tie market need to be evaluating their systems requirements now.”

Cydonia Consultancy director Allan Greenshields says: “Multi-tie has, to a certain point, been dictated already. IFAs looking for providers who will fit their technology platform have a very limited selection because very few providers have the technology capability needed to do this type of business.”

Recommended

King reins in market

Are the comments of Bank of England Governor Mervyn King equal to a 25-basis-point rise in interest rates? Several commentators suggest that two rises of 0.25 per cent over a period of months have had much less psychological impact than one of 0.5 per cent. One says the property boom requires a much bigger rise […]

Menu master

Menu-based healthcare and insurance packages could be even more attractive if they allow income protection cover to be converted into long-term care insurance. Although a recent arrival on the UK financial services scene, the menu-based life and healthcare insurance package accounts for a major share of total protection sales. It brings advantages for advisers and […]

With-profits AVC funds cutting equity exposure

Exposure to equities within with-profits AVC funds has continued to fall over the past year, according to a survey by consultant Watson Wyatt. Its 2004 survey of additional voluntary contribution funds shows that the average allocation to UK and overseas equities of with-profits AVC funds has fallen to 40.4 per cent from 47.3 per cent […]

The yield shield

In the UK there is a general tendency to knock anything that is good, be it in sport, popular music, fashion or business. This rule has also applied to the buy-to-let sector. This market has grown at a great rate of knots over the last few years but it is constantly knocked. We are always […]

2

Britain's “Forgotten Army”: The collapse in self-employed pension membership – and what to do about it

Pension scheme membership among employees has risen by more than five million in the past four years because of the policy of automatic enrolment into workplace pensions. But Britain’s army of 4.4 million self-employed people, who account for one in seven of the workforce, are not covered by automatic enrolment. Pension coverage among the self-employed […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    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

    Email: customerservices@moneymarketing.com