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Only 10% of IFAs want life office platform
14 September 2010
The majority of IFAs would like their platform to be independently run, a new study has found. Research by Defaqto shows 59% of advisers would prefer an independent platform above other options when the technology and proposition are consistent. Only 10% would opt for a life office solution which will come as a blow to the many insurers known to be developing new platform propositions. Meanwhile, 15% would go for an IFA co-operative option, 5% through an investment house and 1% from a bank provider. The remaining 10% of the 127 advisers surveyed said they had no particular preference. Fraser Donaldson, insight analyst for funds at Defaqto, points out the research highlights a desire to go independent rather than any actual trends and quality of service is ultimately the deciding factor for IFAs. He adds: "Given many advisers have been largely dependent for their livelihood on the product ranges of life offices, the finding that surprised us most was that only 10% of advisers preferred their platform provider to be operated by a life office." Published by IFAOnline
