View more on these topics

Threesixty rejects mass ownership of IFA technology

Threesixty says the integration strategies of large software houses may lead to an unwelcome restriction on IFAs’ choice of software.

It says firms such as Vertex and Capita acquiring some of the software required for IFAs to perform their back office functions, quotations, research and mortgage sourcing in order to offer integrated solutions, there is a danger that decisions will be based more on politics than on the best interests of the IFAs they service.

Threesixty partner Phil Young says: “There is certainly value in technology firms providing an integrated service to IFAs, but it is vital that they do not take a monolithic attitude to technology.

“IFAs prefer choice and want to mix and match the software which suits them best. Some of these software packages have provided real value for IFAs as stand-alone products for years, and this should not be sacrificed by placing commercial pressures on subscribers to standalone products.

Understandably they do not react well to being told what to do – especially if it is not in the best interests of their own business. The IFA community needs to hold a consistent line that whilst we are all for integration, we will not have technology dictated to us.”

Recommended

A&L launches offshore bond

Alliance & Leicester International Limited has launched a limited edition one year fixed rate bond with a fixed interest rate of per cent.Customers can deposit between £5,000 and £1m into the bond, which will mature on April 30 2008. Customers can choose to have their interest paid on the maturity of the bond or on […]

125% Loan deal from A&L

Alliance & Leicester has launched a mortgage called PlusMortgage which combines a mortgage with an unsecured personal enabling people to borrow up to 125 per cent loan to value.

Profits up 16% at Royal London

Royal London’s profits in 2006 rose by 16 per cent to 116m from 100m in 2005. Contributions from new business rose by 16 per cent to 36m from 31m.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    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

    Email: customerservices@moneymarketing.com