The Adviser E-Enquiry independent research project, led by adviser technology suppliers 1st Software, found the largest deterrents to using online services were insufficient product provider coverage (14 per cent); poor service reliability (12 per cent); and 11 per cent of advisers said that online services were more difficult to use than paper-based methods.
IFAs not using portals, extranets, online e-submissions or online new business said they felt it took a longer time to complete information (33 per cent); re-entering data was a problem (17 per cent); or they lacked training/experience (16 per cent).
Rory Curran, executive chairman of 1st Software, said: “For most advisers the time and cost-saving benefits of doing valuations, submissions and getting technical support online are very important but our concern has to be with the adviser firms who have already been put off online services through bad experiences.
“This information will be extremely valuable in helping us work with our industry partners to help them develop practical solutions.”
