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.
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