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Mobile commerce set to ring up the business

Most IFAs believe mobile commerce will change the way they do future

business but do not know how to grasp the opportunities it offers, says a

new survey.

The research from CMG, the European information & communications

technology services group, says over two-thirds of IFAs believe people will

be able to access their financial details through mobile phones in the next

three years.

This is despite 90 per cent of financial services companies needing to

reprogram their websites to deal with WAP technology throughthe internet.

CMG life and pensions division director Phil Duke claims IFAs held

similarviews about e-commerce three years ago but failed to act at the


He says three years ago there was a lot of interest shown in the new

business opportunities of e-commerce but many IFAs did not know how to put

them in to action.

Duke says: “Many IFAs are saying m-commerce will have an effect on the

industry but not many know how to go about using it. They are making the

noises to say they are interested in mobile commerce but not doing a great

deal about it.

“IFAs should look to invest carefully and wisely with durable technology

to enable them to take up the new opportunities which m-commerce offers.”


BSI ready to fly a kitemark for financial advice

The British Standards Institution, which tests everything from crashhelmets to condoms, is discuss-ing kitemarking finan-cial advice.The OFT suggested that the BSI should be handed responsibility forfinancial service standards last year after it ran into problems over theimplementation of its own code of practice.The move has sparked hostility from IFAs who feel it will only add […]

Think Tank calls on Government to relax annuity requirements

Think-tank Social Market Foundation is joining the growing clamour for the Government to relax its annuity requirements. The group says the obligation now on pensioners to buy an annuity at 75 is highly damaging and the case against it is overwhelming. The conclusion is part of a report on different ways pensions funds can be […]

Abbey National announces plans to offer franchises

Abbey National is taking the bold step of offering managers the opportunity to become franchisees of their own branch. The unprecedented move in the UK&#39s banking sector is a response by the former building society to increased competition of telephone and internet banking. Abbey divides its 780 branches into 160 local markets. It plans to […]

Mind the gap

It takes a lot to be an IFA. Even after qualifying, there is regulatorypressure to demonstrate professional competence continuously.FSA head of industry training David Jackman, says: “One exam taken at theoutset of a career does not guarantee competence through a person&#39s workinglife, hence, CPD needs to be prominent.”How does an IFA keep up with new […]


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