Wraps face threat from back-office providers

Badaloo tells IFAonline back-office technology will soon become good enough to eliminate wraps and IFAs could soon use in-house ‘super wraps’ to store their clients’ data. He says super wraps can store historic client data, which he highlights as an advantage over traditional wraps. He says: “If back-office technology develops at the rate it is at the moment, there will be no need for a wrap. "If the back-office technology can show you all the amalgamation on your computer screen that will be a kind of a super-wrap that you didn’t have to do any work for.” He also believes we wi...