Skipton Building Society has launched adviser technology systems, now:digital and now:advise for its advisers and their front and back office support staff.
There is a client portal including an online fact-find, valuation, document storage and secure messaging with calculators embedded on Skipton’s website.
The technology is from fintech software provider Focus Solutions.
Matthew Leach, director of financial advice at Skipton Building Society, said: “We selected Focus Solutions over the other providers on the market because of their unique approach to building a total next-generation advice technology solution.
“This is about much more than simply replacing our back-office system. Focus is able to provide a hybrid advice process that allows us to offer a fully integrated and, where necessary, automated proposition that provides advice in the most appropriate way, at the most appropriate price in the way the client wants to interact.
“This technology solution makes Skipton one of the technology leaders in the field of digitally enabled hybrid advice.”
The solution has a costs and charges calculator which enables advisers to provide their clients with a detailed, fully compliant (MIFDII) disclosure of the costs and charges associated with their current or recommended investment.
The system also has a portfolio analysis tool and a triaging tool which ensures consumers are offered the most appropriate advice model for their needs.
Dave Upton, managing director at Focus Solutions, added: “We are delighted to be working with Skipton and to be leading the creation of a move towards ‘New World Advice’ with our products now:digital and now:advise.
“These products are the next-generation solution for advisers who want to offer exceptional client experience and accessible services to help close the advice gap in the UK, along with maximising the profitability and efficiency of every aspect of their business.”
A number of users across management, financial control and IT helpdesk, consisting of around 790 users, will also access the new systems.