View more on these topics

Only 6% of IFAs plan multi-ties

Only 6 per cent of IFAs have any plans for multi-ties, according to research by The Exchange.

Ninety-two per cent of IFAs say they will stay independent while 5 per cent expect to multi-tie for selected products and only 1 per cent plan to multi-tie for all products.

The Exchange’s 2005 technology index survey questioned 300 IFAs and responses confirm that IT is vital for effective operation in a depolarised world, with over half of IFAs expecting to increase their reliance on IT.

IFA portals are the preferred access point for e-commerce services with more than 75 per cent of IFAs preferring to get quotes through portals or trading platforms rather than direct from product providers.

The Exchange managing director David Child says: “Despite widespread conjecture about the attractions of multi-tie status, most IFAs are committed to retaining their independence. IT has become the lynchpin for IFAs and portals remain the favoured channel for the full range of e-commerce services.”

Jamieson Financial Man- agement principal Bruce Jamieson says: “This is encouraging but I am astonished that it is not 100 per cent. I cannot understand how these multi-tie operations plan to survive. What if someone comes to you with an Allied Dunbar policy? You cannot talk about it. It is like a boy standing outside the sweetshop gazing up at the bullseyes you want but you have a pocketful of liquorice allsorts and the shop is closed.”


Tories call for complainants to pay FOS fee

The Conservatives are calling for complainants to the Financial Ombudsman Service to pay a refundable up-front fee in a bid to halt the number of unnecessary cases taken against IFAs.

In Partnership plans paperless business

IFA network In Partnership says it aims to become a paperless operation by cutting in half the amount of paper used centrally and by its 450 RIs in the next two years.

Survival guide to pension simplification

Punter Southall has launched a third pension simplification survival guide covering higher net-worth clients and planning around the recovery tax. It includes a guide to the differences between primary and enhanced protection and which is best suited to different clients’ needs.

Gimme shelter

Can you explain to me the recent rule changes surrounding tax-efficient investments as I am interested in maximising the options for myself and my children?


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm