Fears over internet security prevent 50 per cent of IFAs from carrying out more business online, according a survey by BT's internet division BT Openworld.
The research found that almost all IFAs use the internet in day-to-day business and use trading platforms but many are cautious about the increasing number of internet-based opportunities on the market.
BT Openworld Business Internet Services president Tony Harris says: “In the financial services industry, up-to-date information is absolutely critical if you are to maintain any sort of relationship with your customers.
“Smaller financial companies often lose out to the bigger players as consumers prefer to opt for the names they know. Using the internet, both as a research tool and as a customer channel, can help them to provide a more personalised, accessible service to clients.”