Advisers have criticised both business-to-business and business-to-consumer marketing although they particularly want to see a change in marketing directed at themselves.
IFA managers would like to see more customer relationship management rather than broadcast marketing, according to qualitative research from H2B.
They complain about lack of proper consultation on product development and believe much print material is a waste of resources, often off-message and allowing little outside control from the IFA management.
Business-to-consumer adv-ertising is also criticised, with condemnation of detailed product advertising aimed at consumers. IFAs also question the use of marketing through specific newspapers such as the Financial Times, asking whether this is what clients read.
Providers are also criticised for over-elaborate customer materials and brochures.
They welcome brand advertising although big spends were criticised. Some advisers also suggested that some big spends on brand are more appropriate to multi-ties.
The companies also identified a need for the sharing of leads from different parts of the company, particularly as parts of the business begin to specialise by product area.
One fee-based national IFA says: “They should be spending their budget on service rather than marketing. If they are saying 'Right, our clients are the intermediaries rather than the general public,' what they should be doing is marketing to the intermediaries or the key intermediaries on an individual basis rather than any wider.”