View more on these topics

Exchange&#39s direct net access finally arrives

The Exchange has finally launched direct internet access to its intermediary portal, the service that IFAs have been crying out for for years.

Intermediaries will now be able to access The Exchange for quotations, new business transactions and product hardware over the internet for no extra cost under all-in internet connection packages without having to dial The Exchange&#39s own extranet separately.

The move, which The Exch-ange says will make using the system cheaper and easier, also means that IFAs can access the portal from computers in any location rather than from a dedicated terminal in their office.

The Exchange&#39s move is in response to the threat posed by the rival offering to be launched following the amalgamation of the Assure-web and m-link portals under Misys.

Exchange FS head of life and health protection Stephen Wynne-Jones says: “We are aware that we now have a bigger rival rather than two smaller ones but we have had competition for a while now.”

IFAs are reacting to the news with relief. They say they are disappointed that it has taken so much longer to achieve than other portals but they are looking forward to improved functionality.

Direct Financial Services director Derek Williams says: “Hallelujah. It is really good news but really long overdue. The Exchange was the first on the market with an IT tool for IFAs but they were slow to catch up with others on internet access. I have always wanted to support The Exch-ange – getting this sorted means I can.”

Robert Clark director Ashley Clark says: “I am absolutely delighted because I pay for my online service and it grieves me to go and use someone else&#39s. It is a very positive but long overdue move.”

Recommended

Customer and practice

Although the UK life and pension industry has been in existence for over 200 years, there are many indicators that it is far from a mature industry.More than 100 companies trade in the life and pension market but even the biggest of these has a market share barely into double figures. Despite accelerating merger and […]

Young footballers back cancer campaign

Gerrard has teamed up with the English Schools Football Association and charity The Garland Appeal to raise awareness of testicular cancer.ESFA&#39s Check Your Kit campaign plans to send leaflets and posters to more than 14,000 secondary schools across the country, stressing the importance of checking regularly for testicular cancer.It is being fronted by Millwall striker […]

Why with-profits model is past its sell-by date

Who can beat the returns from With-profits?Although I must have missed Brian Newbold&#39s article on the smoothing of withprofits funds (Money Marketing, August 30), I am familiar with his views.Terence O&#39Halloran is quite right to defend the past performance of withprofits funds. However, like the rest of the investment industry, their limited research seems to […]

Massow Rainbow Group suspends trading

Ivan Massow’s Massow Rainbow Group has suspended trading prior to a restructuring to be announced next week.Massow is reported on website gay.com saying he is trying to buy the company, of which he is a sleeping partner, back after an period of notional receivership. It says Louis Letourneau, managing director of the firm created out […]

India budget: BJP focuses on growth

By Kunal Desai, Head of Indian Equities

With markets kept open on Saturday, finance minister Arun Jaitley delivered a promising budget focused on growth and decentralisation. While many complained about a six-day working week, there was much to be pleased about and the markets rallied in the afternoon to finish in the green.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment