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IFAP service delivers £54m value to member IFAs

IFA Promotion’s ‘Find an IFA’ referral service delivered £54m of commission value to member IFAs last year with a 16 per cent increase in consumer and business enquiries.
The independent study commissioned by IFAP found a 15 per cent year on year increase in income and an increase of 270 per cent since 2000.
The figures show an estimated 56 per cent of hotline callers and 43 per cent of online IFA enquirers went on to visit a member IFA and buy an average of 1.2 and 1.6 products respectively.
IFAP chief executive David Elms says: “Faced with the biggest shake-up on the financial high street in over a decade, 2005 was potentially a turbulent year for the IFA sector. However, as these figures highlight, the independent financial advice brand has emerged stronger than ever. The dedicated efforts of IFAP to continually improve our marketing activity and the value we create for our members and sponsors is demonstrated by this research.”

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