Planners switched on to Internet

Only one in 50 financial planners does not use the Internet for their business, according to a recent survey.

The number of financial planners using the Internet in their business has jumped more than 50 per cent in the past two years from 61 per cent in 1998 to 98 per cent this year, according to Perpetual Investments' Adviser Pulse 2000 survey.

The survey found 84 per cent of advisers has used the Internet to visit fund manager sites in the past year.

Perpetual Investment's head of retail Gerard Doherty says the survey indicates advisers are at the forefront of e-business.

"Other anecdotal evidence suggests financial planners are increasing their focus on knowledge improvement and information access - both about products and about their business," he says.

"Our survey also shows that advisers use fund managers' roadshows not only to get information about products, in particular Australian and international equities, but are also seeking information on business and marketing strategies to help them manage their own business."

Doherty says the survey also indicates the majority of advisers use fund manager advertising to convince clients to invest with that fund manager, with 81 per cent of advisers saying that such advertising is "helpful" or "very helpful".

The survey found that master funds and wrap accounts are now almost universally used, with only 19 per cent of advisers not using them for at least some clients.