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New RDR technology for PTFS

Robyn Hall

January 21, 2013

Toolbox is Personal Touch’s CRM system used by members on a daily basis to manage client communications and support new business development.

The new adviser charging functionality now supports different charging structures selected by advisers and caters for the various options of payment selected by their clients.

David Carrington, marketing director of Personal Touch, said: “The changes we have made to our technology ensure that it is very intuitive, easy to use and most importantly flexible enough to cater for our members’ choice of charging structures under the new MMR and RDR regulations.

“We have introduced an option whereby fee agreement records can be generated with just a few clicks, directly from the policy screen. And, in most cases the expected value of the fees and their appropriate VAT treatment is calculated automatically, making the whole process much slicker.”

The biggest behind the scenes development for the Toolbox system sees the commission reconciliation module capable of handling fees that are paid via provider payments without adviser intervention. Members will also benefit from the functionality which allows legacy commissions and multiple introducer payments to be smoothly processed online.

The final significant development, with regard to Adviser Charging, allows each firm to submit their monthly fee returns showing all their fee agreements from the previous month and the invoices that they have raised, in line with FSA reporting requirements.

Toolbox will also allow advisers to produce statements detailing advice charges due, payments received from product providers and outstanding charges – all of which can be exported to an accounting system of choice.


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