IFAP has generated up to £54 million worth of commission for its member advisers, amounting to a 15 per cent increase on last year and a 270 per cent increase since 2000.
In total, IFAP-generated mortgage lending has increased by 34 per cent since last year, with the number of new consumer and business enquiries up by 69,285.
David Elms, chief executive of IFA Promotions, commented: “Faced with the biggest shake-up on the financial high-street over the decade, 2005 was potentially a turbulent year for the IFA sector.
“However as these figures highlight, the IFA brand has emerged stronger than ever. The dedicated efforts of IFAP to continually improve our marketing activity and the value we create for our members and sponsors are demonstrated by this research. In particular, our online focus has successfully mirrored enquirer behaviour, and we recognise that the internet is the research tool of choice for consumers looking for local financial advice. We will continue to strive for even better value and returns for our sponsors over the year ahead.”
Launched in September 2004, IFAP now has around 2,900 members paying an annual fee to subscribe to its services.
Rachel Loynes, IFA at Carterbar Ltd, said: “We certainly seem to be busier this year, but it could just be that people are moving more often or are becoming a lot more clued up to the fact they may need to change their rate. As far as we’re concerned, we try to see people when their deal needs changing. We don’t tend to use lead generators and find it’s better to concentrate on our existing leads and generate our own.”
