By Kira Nickerson IFAs are the target of a number of web-based initiatives, looking at ways of impr...
By Kira Nickerson
IFAs are the target of a number of web-based initiatives, looking at ways of improving the presence of intermediaries on the internet.
E-enable has launched a service that is looking to help financial advisers design and support their own website.
The company, which is part of the Dynamo marketing group, will help intermediaries establish an online brand and assist in the marketing of their website.
The website design is done on a bespoke basis and not through the use of templates, which is common on a number of intermediary portal sites.
Mark Wilkins, commercial director at E-enable and formerly an IFA and most recently pensions marketing manager at Legal & General, said: "The majority of companies operating in this market have neglected to help intermediaries market their site.
"E-enable will help intermediaries understand how to best exploit their site, how to build client relationships online and get clients to regard visiting their intermediary's site as a normal part of their relationship.
"With the threat of lower commissions and a significant move towards fee-based earnings, the internet offers huge cost savings to the IFA."
One of the key drivers for internet services will be stakeholder pensions, where intermediaries are well placed to take advantage of the cross-selling opportunities it presents, Wilkins said.
The service also includes advice on internet compliance issues, internet design and build and site hosting. For more information contact: 01483 489130.
Another IFA service launched is an end to end business administration system from information and communications technology services group, CMG.
The system is expected to streamline the front and back office systems in an IFA office so that manual re-entry is unnecessary. This means customer information taken by an IFA at the point of sale on a lap top, can update the office version or visa versa, without re-keying in the information. Maintaining and amending multiple records can be done once and then automatically updated throughout the entire system.
Doug Morris, associate director responsible for product development within CMG's life and pensions division, said: "We have enhanced the electronic data interchange (EDI) capabilities of the system so that IFAs can now obtain detailed commission statements from insurance product providers electronically."
CMG has improved the compliance functions on the system so that it will enable intermediaries to more easily monitor and record all activities and information from enquiry through to policy acceptance.
Other components within the Consultor system include customer management, enquiry management and tracking, quotation, proposal and policy administration, commission calculation and accounting, commission reconciliation, compliance management and fee processing. Another internet service that is looking to streamline buying processes for IFAs and their clients is moneygator.com, which launched this spring.
The European personal finance site, which features online application for mortgages and loans from 32 different providers has recently added Barclays and Bristol & West to its service.
The service's pre-screening application process enables providers to tie specific criteria to each product and the site will then match the applicant's data against these criteria.
Other lenders on the site include Halifax, Northern Rock, Yorkshire, Egg, Woolwich, NatWest, Nationwide, Scottish Widows, Paragon and Marks & Spencer Financial Services.
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