In recent years, the internet has grown in importance for consumers researching their financial advice options and with online access amongst UK households now topping 61%, this trend is set to continue.
This evolution in online space has had an inevitable impact on the IFA world, with 94% of the 575,000 enquirers requesting details of local member IFAs through Unbiased.co.uk’s Find an IFA services each year now doing so online.
Of Unbiased.co.uk’s member IFAs, 96% offer their email address as a means of communication and over two thirds (67%) of member IFA firms now have a website however only 38% (just over half those with a website) are promoting their website and e-mail address cost effectively on Unbiased.co.uk's online searches.
However, as the web has gradually become the most important source of new leads after personal referrals, member IFAs are increasingly recognising the importance of being visible online to make sure consumers can find their details on the virtual high street.
David Elms, chief executive of Unbiased.co.uk commented, “It is encouraging to see that IFAs are embracing the online world, but there is still much more they can do. There are still one in three IFA firms that are currently without a website and we know that consumers are increasingly using the web to research their financial advice options. And a significant proportion of those IFAs with a website have yet to promote it cost effectively. The challenge for the IFA market over the next years is to further close the technology gap and utilise the online opportunities that are currently in the market.”
