The majority of intermediary firms (52%) agree that developing new or existing websites should be at the top of their ‘to do’ list this year.

 

These results come from the latest online technology poll run by 1st - The Exchange, which asked over 100 financial intermediaries and users of its Exweb portal for their views.  

 

Despite a significant increase in online fraud and cyber-related crime over the past few years, only 8% of intermediaries see this as the major technological threat to their business in 2010. 19% claimed ‘viruses’ could be their biggest worry in 2010 but for 42% of advisers data loss was the biggest threat. The second highest threat recorded  31% - was a change of operating system or desktop software.

 

David Child, managing director, 1st – The Exchange, said: "With online fraud, hacking and computer crime now at record levels, it is imperative that advisers take these threats seriously and have a robust disaster recovery and security system in place.  Whilst it is encouraging that many advisers are aware of the growing threat of data loss, it is equally surprising that more advisers see the planned decision to change an operating or desktop system as providing more risk to their businesses than viruses or fraud."

 

Anthony Ryb, sales director at computer backup solutions specialists, Depositit, said: "Advisers are right to be concerned about data loss as a serious threat to their business. We all know the havoc that’s caused when our internet connection is disrupted, so taken to the next level and losing all your files could very quickly destroy a company if no backup copy is available.

 

"I would also agree that there does seem to be a correlation between the fear of data loss and putting in place a new operating system. In fact each week we help advisers restore their information onto new machines - and there is always a collective sigh of relief from the adviser when it is completed."

 

52% said their most likely technology investment in 2010 would be in website developments, possibly signalling a growth in the development of online distribution channels in the run up to the implementation of the new RDR legislation.

 

And despite their apparent anxieties over changing operating systems, almost one in five (19%) advisers said their most likely technology investment for 2010 would be the new Microsoft Windows 7 operating system.

 

An equal amount of respondents said they were most likely to make a technology investment in smart mobile media, possibly iPhones or their equivalent in 2010. Only 10%, the minority, were attracted by tablet PCs as a key investment – although this may be because some larger national IFAs now supply these free of charge to their adviser members, removing the need for them to purchase direct, 1st - The Exchange speculates.