Advisers and providers need to start targeting their services at the growing number of consumers who are already using online financial services such as banking.
This is the advice from 1st-The Exchange which has identified a ‘virtual high street’ of around eight million and growing in its white paper ‘Gaps & Opportunities’, examining the effects of changing market and regulatory conditions in the UK advisory sector. “The 8 million XY ‘surfers’, already using online banking services and readily open to similar offerings, represent a very powerful online high street for financial services providers,” the report says. It concludes both advisers and providers will need to make a rapid re-assessment of current distribution strategy to cope with the ...
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