Research Highlights IFAs' Use of the Internet 27/06/00 Market research specialist ORC International has announced the results of its quarterly IFA Omnibus survey - Broker Express - which highlights IFAs' use and perception of using online methods of communication. Results indicate that IFAs are becoming more accustomed to using the Web for conducting research and communication, but only a handful are using the Internet to place business with their providers electronically. The key findings of the survey include: Even though two thirds (67%) of IFA's can access the Internet via their own PC or laptop, just under half of regular users are ready to embrace all that the Internet has to offer. Just under half of IFAs surveyed (43%) are visiting their providers' Web sites to learn about industry developments or breaking news. Of those who have access to the Internet at work, eight in ten IFAs (79%) are already used to monitoring fund information through software packages such as Exchange and Micropal. However, while more than two thirds (68%) visit their providers' websites to gather product information and/or obtain forms, only 7% of those polled admitted to using the Internet to place business with providers electronically. A quarter of those asked are already using their providers' extranet sites to access information on existing business, and 17% are using extranet sites to check the progress of policy progressing. Many of the UK's leading financial organisations are currently developing extranets to provide an additional method of communicating with their clients. According to ORC International's Research Director of Financial Services, Martin Grimwood, "Our research indicates that IFAs are definitely geared up for using the Internet as both an information gathering and communications tool, although the fact that few are using the Internet to place business electronically must be of concern to the market." ORC International's team of trained telephone researchers approached a total of 202 companies in the latest quarter's survey. These included IFAs at partner or senior intermediary level who are responsible for placing life, pensions and investment business with insurance companies and life offices. As well as those survey questions asked by ORC International, Broker Express contains specific questions from financial organisations, providing a method of conducting quick research projects amongst IFA's.