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Fears grow over internet domination

Uncertainty over the future of Moneyextra has sparked fears that one player could dominate financial services portals.


Providers fear a monopoly could lead to increased fees for IFAs and life companies as well as the portal wielding its position to gain enhanced terms.


Experts says the prime candidate behind any takeover is Misys, which is known to have made previous attempts to buy The Exchange. A report from Cap Gemini Ernst & Young says: “Any portal seeking to manipulate IFAs&#39 access to providers is in danger of undermining its benefit to IFAs.”

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