Norwich Union is launching an online transactional facility, which will initially allow IFAs to buy ...
Norwich Union is launching an online transactional facility, which will initially allow IFAs to buy Isas.
The service will be available in the next few weeks and, by setting up a link from their own websites, IFAs will be able to click on an icon which takes them to Norwich Union's IFA link. This will then guide the user to advisory and transactional pages, allowing clients to submit their applications on-line.
Any transaction carried out will record the IFA's details via an electronic 'stamp' which registers which agency the client has come from.
Stewart Cazier, chief operating officer of Norwich Union Investment Funds, said the company would initally be offering the service for Isas but has plans to expand the service to include all its products.
He said: "There may be a lot of publicity about financial websites but few actually offer transactional services over the internet. This is an excellent opportunity for IFA's to convert their websites from what is essentially an advert into something which really adds value to their service."
Norwich Union will provide an execution-only service, to be used at the end of the financial advisor's appraisal. When clients come to making an application, they will be presented with an on-screen form which they can either print out or fill in via the computer.
Norwich Union also offers the online sale of Isas direct to the public. However, Cazier insisted IFA's have nothing to fear from the availability of online applications as long as they had a website.
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