Providers revealed as time-wasters

IFAs are spending an average of 32 days a year chasing and checking information from product providers, according to Sesame's latest Provider Service Index. A third set aside between five and 10 hours every week to check the progress of cases, while 14% of firms have to spend more than 10 hours each week. The overall average was 5.4 hours per adviser or administrator each week, a marginal improvement on the 5.5 hours that was identified in last year's study, yet 30% of firms employ a person solely to chase providers.