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Exchange tailoring multi-ties for IFAs

The Exchange managing director David Child predicts about 10 per cent of its clients will be multi-tied by June with many others waiting to see how depolarisation works out before deciding whether to switch.

Child says he has been busy dealing with client requests concerning depolarisation, including big intermediary firms wanting bespoke solutions to deal with projects.

Child says many firms are keeping an open mind over depolarisation, setting up alternative plans with The Exchange to react to the different ways the market may swing.

The Exchange offers a service where an adviser can switch between viewing a panel of providers and the whole of market, allowing advisers to switch depending on whether they are acting as a multi-tie or an IFA.

It is in discussions with big distributors, with some looking to have the technological capability to multi-tie in addition to their IFA business.

Child is continuing to see a move toward extranet links and away from the system known as product application component (PAC). He says at the start of 2004 there was a 60:40 split in favour of extranet links but now over 90 per cent of new business quotes come from this source.

He says: “Research from our 2005 technology index suggests that the vast majority of advisers would maintain their independent status but we are seeing an increased level of interest in our Exweb multi-tie panel management capability.”

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