IFAs waste five hours a week chasing providers

A survey from the support services company revealed that on average, advisers or administrators spent 5.4 hours a week chasing and checking up on cases they have sent to providers, with many taking longer. One in five firms spent at least ten hours a week pursuing providers, while another 28pc said they spent between five and ten hours a week doing the same. Although the average of 5.4 hours a week is an improvement on 5.9 hours which was recorded in 2005, 30pc of adviser firms still employ at least one person whose main job is to chase product providers. The remaining 70pc have to...