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What’s New In Investments, Funds? – TrustQuay, Third Financial
Editorial Staff
11 October 2022
This week, , a UK investment platform used by wealth managers and IFAs, has developed a two-way integration with intelliflo office, to help advisors modernise, simplify and scale their businesses. intelliflo works with 2,500 financial advice firms across the UK, helping them with a personal finance portal, electronic signatures, management information reporting, lead management, and fact finds. The leading IFA Foster Denovo partnered with the Third Financial platform in 2019. “Naturally, we want to attract new firms to our platform, but the wider mission is to help advisors simplify and scale in a sector that is prosperous and efficient for both clients and advisors,” he added. “The advisor segment lags behind other financial services. Advisors are well-aware they need to follow suit, with too many advice practices still running their business across multiple platforms. To date, they have lacked an obvious single alternative to turn to but we are now providing that alternative,” he said. “As margins are compressed, the best course of action is to reduce the long-term administrative burden, leaving more time for IFAs to engage with clients and grow their business. As the market and client demand changes, it is much easier to adapt if you have a simplified operating model,” he added.
All clients and plans opened and maintained in intelliflo office are electronically updated to the platform in real-time, eliminating dual keying, the firm said in a statement.
Third Financial’s platform allows advice firms to gain operational efficiencies by consolidating their multiple platform relationships into a home for all their clients and under their own branding, the firm added.
Welcoming the move, Amir Hakim, proposition director at Third Financial, said: “Our well-established integration with intelliflo is part of our ongoing effort to modernise advice businesses.”
Helen Lovett, chief operating officer at Foster Denovo added: “We worked with Third Financial to design and build the intelliflo office interface. The two-way interface has removed data rekeying between the systems and enabled us to onboard clients and process advice administration far more efficiently.”
Ian Partington, group chief executive officer at Third Financial, said: “The advice sector is facing manifold challenges including fee pressure, rising costs, and further layers of regulation.”