The briefing found that 77 per cent of respondents expected CP 121 to cause the use of technology to increase, with only 20 per cent thinking it will stay the same and just 3 per cent predicting a decrease. 69 per cent felt that technology services would be the most likely incentive used by providers to attract advisers to multi-tie, with 89 per cent hoping that providers would be willing to fund such technology for advisers in a multi-tied environment.
Sue Summers, general manager of The Exchange, Marlborough Stirling's intermediary business, said: "Under the CP121 proposals providers will increasingly be looking to distribute their products via multiple distribution channels. To do this as quickly and as efficiently as possible they will need to be able to conduct two-way electronic communication and data transfer with all types of adviser - for both sales and servicing.
"Providers and advisers must begin to work together now in order to achieve the seamless end-to-end, cross-industry processing required to make depolarisation cost effective. This is a real opportunity for the sector to deliver better value products and services to consumers."
