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Survey shows net will not destroy IFAs&#39 role

Face-to-face financial advice will always be in demand by some investors

who resist the lure of the internet, according to research.

Even a third of those people who have bought life insurance online say

they would only use the internet to buy a life product after receiving


The research was carried out by Mori Financial Services on behalf of

public relations firm Shandwick.

It shows that online sales of financial services prod-ucts are falling

behind mainline purchases.

In the past six months,37 per cent of all internet users have bought

non-financial products on the net but only 3 per cent have bought financial


But the research does reveal a growing potential for selling financial

products online, particularly insurance and investments.

A quarter of all Isa buyers questioned say they are lik-ely to buy Isas

online while nearly a third of life insurance buyers say they are likely to

use the internet to purchase life products.

Shandwick International account director Tom Leatherbarrow says: “The

res-earch shows there is clearly going to be a large body of the population

who will not buy financial products online. Therefore, major life insurance

and pension compan-ies are still going to have to have an intermediary

routeto the market.

“It is not simply an age issue. People of all ages say they will always

want advice from an IFA before they buya financial product online.”


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