Tenet has signed a long-term contract with software company Focus Solutions.
Focus supplies a ‘Remuneration Management’ module which allows customers to settle up fee agreements, calculate and record fees, and produce and issue invoices.
Mike O’Brien, managing director of TenetConnect and TenetSelect, said: “This module essentially offers a one-stop-shop solution for post-RDR remuneration, giving advisers greater visibility of their payments, transactions and related management information.
“This follows a major investment in upgrading to the latest version of Tenet Advantage in January this year, offering members improvements in ease of use, customer servicing functionality, management reporting and flexibility to reflect regulatory changes.”
Dave Upton, managing director at Focus Solutions, said the contract is a landmark point in its relationship with Tenet.
He added: “It reflects the substantial commitment and investment that Focus is making in bringing a new generation of end-to-end, modern, adviser-focused solutions specifically to the IFA market.”