Northern IFAs lead Southerners in e-business

Northern-based IFAs claim to carry out more e-business online than their southern counterparts, research from Origo reveals.

Some 61% of Northern-based IFAs currently carry out more than 25% of their business online compared to only 20% of IFAs based in the south of the country. The survey also revealed that nearly four times more northern than southern IFAs conduct more than half of their business online, at 15% and 4% respectively.

The study also found that the number of passwords IFAs have to remember to access provider extranets or portals remains high across the UK as a whole, with 40% of IFAs struggling with 15 or more passwords.

The findings compared recent statistics from two surveys carried out at the adviser.tech events, the technology events for the financial services sector, held this year in London and Glasgow.

Sandy Neilson, chief executive of Origo, says: “It is encouraging to see so many northern IFAs carrying out business online. But according to these statistics, the UK IFA industry has a long way to go to if we are to move towards a paperless office.”

To encourage more IFAs to move online and to solve the password problem, Origo, which has the backing of all major financial provider sites, launched UNIPASS, a standard digital certificate for every IFA in the UK, earlier this year.