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‘Leave IT to the experts’

Technology has become too complex for IFAs and they should leave it to specialist firms, Positive Solutions marketing manager Daniel Harrison told delegates at Money Marketing Live.

He said IFAs should stick to what they are good at – giving advice – and leave technology solutions to firms with the resources to deal with this complicated area.

But Barclays Financial Planning head of commercial development Alan Clark challenged the view that it is necessarily hard for small IFA firms to deal with technology themselves.

Clark said there are good IT services on offer but small firms need to make sure their software provider is showing them everything that is available.

Harrison said his firm spent 1.6m last year upgrading services and providing remote back-up to 1,100 advisers, citing this as evidence of the complexities involved.

He said advisers could face huge problems on issues such as backing up data and having the resources to provide an efficient website for clients.

Harrison said: “IT is for specialists, not for IFAs, who should stick to what they are good at, which is giving good advice.”


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