Online business between IFAs and providers is increasing, based on the latest user figures from Frie...
Online business between IFAs and providers is increasing, based on the latest user figures from Friends Provident.
Almost seven out of ten applications for investment bonds was placed through Friends Provident's extranet in May this year, compared with just 28% almost the same time last year and half that again in January 2002.
New data indicates that around 37% of FP's term assurance business is conducted online, along with 52% of distribution bonds.
More than 2,000 IFA are thought to registered on the extranet in the last year, to either submit new business applications, track that application through to policy issue, assess their commission status or use a host of other services, says FP's director of marketing, Graham Harvey.
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