Web beats banks as first port of call for advice-seekers
The internet is the first port of call for potential IFA clients planning to take financial advice, according to an Ipsos MORI survey for IFA Promotion. 25% of IFAs’ target market (ABC1 adults, 25-64) say they would look first for information online, followed by 22% who would make for a bank or building society, 20% who would head for a High Street IFA, and 16% who would ask friends or family about how to get financial advice. Just 1% would flick through the Yellow Pages or a phone book. [Graphic of survey results available]
David Elms, Chief Executive of IFA Promotion, comments: “This is further proof, if proof were still needed, that consumers turn first to the internet to research financial matters, just as they do for their holidays or a new job. The fact that potential customers are doing their initial research online should come as no great surprise to IFAs after all, it’s exactly where most IFAs would go to gather their own information.“
So far, nearly 2,500 (27%) of IFAP’s member IFAs have signed up to its Online Marketing Package, launched in September 2004, enhancing their individual online search entries, and making them stand out to potential new clients. IFAP also continues to expand its online marketing campaign on behalf of members, including high-profile PR and advertising, white label versions of its ‘Find an IFA’ search tool on 50 partner consumer websites, and search engine optimisation.
Elms continues, “We’re encouraged by the rapid take-up of our Online Marketing Package, which confirms that a healthy share of our membership have now locked on to this online opportunity. However, we remain baffled by the four in ten members who have yet to list a website with us, most of whom won’t even have one. If you present your firm carefully, the internet is the ideal tool to attract the right sort and amount of new business and who could possibly snort at that prospect?”
IFAs can find out more about IFAP’s Online Marketing Package, and download IFAP’s guide to marketing your business online, in the IFA section at www.unbiased.co.uk
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For further information please contact:
David Elms Liz Willder/Chloe Mann
Chief Executive Lansons Communications
IFA Promotion 020 7294 3677 / 020 7294 3681
020 7833 3131
For expert comment or case studies from over 200 media-friendly IFAs, journalists should call IFA Promotion’s Media Services hotline on 020 7294 3682 or search online in ‘Media Services’ at www.unbiased.co.uk
1. Independent Financial Adviser Promotion
IFA Promotion was established in 1989 to promote the value and accessibility of independent financial advice to the public. It represents around 9,000 firms of independent financial advisers across the UK and is sponsored by 32 leading financial institutions. In the past 12 months, over 530,000 consumers and businesses used IFA Promotion to find local independent financial advice.
IFA Promotion believes Independent financial advice should be:
Affordable. The option to take independent financial advice should be available, by right, to all - not just the wealthiest in society.
Convenient. IFAs should be available in the location of the consumer’s choice, wherever they live in the UK.
Transparent. It must be clearly transparent to consumers who is able to offer independent financial advice and who is not.
2. Independent Financial Adviser Promotion’s sponsors
Aberdeen Asset Management | Mortgage Express |
Abbey | National Savings & Investments |
AXA Life | NatWest Business Banking |
Bright Grey | New Star Investment Funds |
BUPA Health Services | Norwich Union Life |
Canada Life Ltd | Prudential |
The Children’s Mutual | Scottish Equitable Plc |
Clerical Medical Investment | Scottish Life |
Defaqto | Scottish Life International |
Friends Provident | Scottish Widows Plc |
GE Life | Skandia UK Group |
GMAC Residential Funding | Standard Life Assurance Company |
INVESCO Fund Managers Ltd | Unum Provident |
Legal & General | Webline Limited |
London Mortgage Company | Zurich Intermediary Group |
Lincoln Financial Group |
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