Edinburgh Napier University

  This paper aims to explore the results of interconnectedness in a triadic relationship between a long-term savings and investments provider, Independent Financial Advisers (IFAs) and customers. Smith & Laage-Hellman's (1992) typology of the results of interconnectedness was used to analyse this triadic relationship. This study was conducted in collaboration with one of the UK’s largest long-term savings and investments providers. As a substantial proportion of the company’s business is conducted through IFAs, they are one of the most important stakeholders in the company’s business relationship. Indeed, the majority of sales in the long-term savings and investments industry in the UK are realised through IFAs. Within the UK pensions market IFAs keep a 90.0% market share in the individual market and a 82.0% share in the group market (Datamonitor, 2013). Academic studies (Gough & Nurullah, 2009; Gough, 2005) have indicated that IFAs are the strongest distribution channel in the industry. Conceptual studies of triadic business relationships are scarce in marketing and organisational research (Blankenburg & Johanson, 1992; Havila, Johanson, & Thilenius, 2004; Ritter, 2000). Although, applicability of a triadic relationship has been tested in a number of case studies (Andersson & Mattsson, 2004; Cunningham & Pyatt, 1989; Jaaskelainen, Kuivalainen, & Saarenketo, 2000; Narayandas, 2002; Odorici & Corrado, 2004; Pardo & Salle, 1994; Trimarchi, 2002), to the best of the authors’ knowledge, a study that explores the results of the interconnectedness in this triadic relationship has not been established. Furthermore, the regulatory environment which continues to face change such as the recent implementation of Retail Distribution Review (RDR) on 1st January 2013 will make the relationship more rather than less complex. Due to the RDR implementation, advisory and product provider firms have evaluated their business models and made the necessary changes to meet these requirements. Thus, by analysing the results of the interconnectedness in this relationship, recommendations that can increase the relationship performance can be proposed.