Press Releases

Matrix-Data Solutions, the company behind www.MyLocalAdviser.co.uk, has conducted its latest survey of UK IFAs, investigating current marketing activity and how they plan to tackle the economic climate. The survey, conducted in partnership with IFA Life, also focuses on how IFAs are utilising online tools as part of their marketing strategies.

The economic climate is still seen as a major concern amongst IFAs. Only 11% felt very positive about their marketing strategy during the recession and, in line with last year’s findings, almost 90% felt they need to change their marketing strategies. Worryingly, 41% did not know or were unsure how much they spent on marketing or the results they gained from their efforts.

IFAs are continuing to focus on existing customers during the recession. 78% believe they can identify their most profitable customers and 50% will focus marketing effort on their existing client base as well as trying to generate new business. However, communication with existing customers is far from regular – a third of IFAs communicate with their customers on a ‘whenever necessary’ basis, and 13% only communicate with them once a year. IFAs are generally happy with the cleanliness of their data, despite paper files still being the most utilised method of holding customer information.
IFAs are embracing the Internet as part of their marketing efforts, albeit slowly. Despite 24% claiming their website did generate new business, the same percentage of respondent IFAs did not have a website. However, this is a decrease from six months ago, where 29% were still to establish an online presence. 13% claim to be generating new leads from other online sources such as Internet advertising and social networking sites, but only 8% feel very positive about their current online strategy and only 2% have a defined online strategy. Despite this, 54% expected their Internet marketing activity to increase in the next 12-18 months.

Commenting on this latest survey, David Lovell, Sales and Marketing Director, Matrix-Data Solutions stated, “There are encouraging signs that Internet marketing activity is increasing amongst IFAs and that having an online presence can generate new business. Many IFAs are looking to increase their online marketing efforts in the near future yet most have little confidence in their online marketing strategies or have no strategy at all. Free online services such as MyLocalAdviser and IFA Life can provide IFAs with help and advice in sourcing new business online and improving communication with their existing customer base whilst keeping costs to a minimum.”

Additional Information

MyLocalAdviser.co.uk is the UK’s most comprehensive financial adviser, mortgage broker and financial intermediary directory. The site was developed to help members of the public find an adviser in their local area. All advisers on the site are regulated by the Financial Services Authority and cover the complete range of financial products – savings, investments, mortgages, insurance and pensions.

For peace of mind, data is checked monthly against the Financial Services Authority (FSA) register of authorised firms to ensure that all companies on the site are properly regulated. MyLocalAdviser is owned and maintained by Matrix-Data Solutions, a customer and business intelligence company since 1985. We have been researching the UK financial intermediary market for more than 20 years.

IFA Life is the world's first professional networking site and financial social network for financial advisers. IFA Life provides help and support for IFAs, Mortgage Brokers and Financial Planners in a place where they can expand their knowledge base within a trusted community of peers.

IFAs use the website to connect, interact and engage with each other. They ask questions, share best practice, debate industry issues, get marketing tips, read news, find events, build their brand and give help and assistance to one another by sharing their skills and knowledge.

For further information, please visit our websites:

● MyLocalAdviser – www.mylocaladviser.co.uk
● IFA Life – www.ifalife.com
● Matrix-Data – www.matrix-data.co.uk

Contact Informationn

Beverley Baker
PR and Marketing Assistant
Matrix-Data Solutions
New London House
172 Drury Lane
London
WC2B 5QR

Tel 020 7074 1200
Fax 020 7074 1201
Email bbaker@matrix-data.co.uk