More IFAs than ever are submitting business electronically, yet almost all that are still rely on paper application forms that are re-inputted back at the office, research from The Exchange suggests.
The findings come through a survey of about 500 IFAs visiting the ExWeb portal.
Reasons for the apparent paradox are put down to:
Just 8% of the IFAs surveyed said they entered data directly into a PC while with a client.
A full 92% of the 81% who stated they submit business electronically said they collected data on paper with a view to re-entering the data when back at the office.
The Exchange has published a free guide for IFAs explaining how to submit business electronically to provider, available from the “buy” section at www.exchange.co.uk.
Two global vehicles
'Further plug advice gap'
Must appoint separate CEOs and boards
Advisers do come out well
Will report to Mark Till