Twenty-first Century IFAs can expect more services in the year ahead which will offer them a complete electronic connection with the outside world. IFAs are realising that internet-based tools are becoming an inval uable feature of the way they do business, from searching for relevant information to completing new business quickly online.
Portals will develop to offer full policy servicing and commission tracking and there will be electronic advice tools which will help IFAs provide an even more professional package to their clients.
Persuading IFAs to adopt these revolutionary services will be the challenge in 2001. Last year was the year that some B2C businesses merged or collapsed. 2001 will be the year in which a wave of consolidation will hit businesses operating in the B2B environment. Only the tried and tested business models will survive with traditional internet funding, such as banner advertising on websites, drying up considerably.