Intermediaries can now buy or sell group's range of 11 unit trusts via internet
Lincoln Unit Trust managers is offering online access to its fund range through the adaptation of a software system provided by DPR Consulting.
This will enable intermediaries to buy or sell the group's unit trust range of 11 funds, Isas and corporate bonds online, at its website, www.lutm.co.uk.
The site is in the process of being rebuilt and while the functionality will remain the same, the look and ease of navigation will be enhanced over the next three weeks, when the site will be relaunched.
Up to the end of August, most of Lincoln's funds had been on special offer and when the site is relaunched, the group is looking to feature further offers.
If advisers place business via the industry trading platform EMX, they can offer clients an initial charge of 2.25% on its fund range, down from its normal charge of 5% initial, while still offering 3% intermediary commission.
In November last year, Lincoln handed the fund management of much of its unit trust range over to Goldman Sachs fund managers, extending the arrangement the group had reached for the management of its Lincoln Internet Tollkeeper fund, which launched more than a year ago.
The Internet Tollkeeper is ranked fourth out of 24 funds in the Technology and Telecoms sector over one year, based on bid to offer returns of -57.2% compared to sector average returns of -64.4%.
Goldman also manages the group's corporate bond fund, which launched earlier this year and marked its first entry into corporate bonds.
Goldman Sachs manages some of the group's pension funds along with other external managers including Lazards, Schroders, Framlington, Jupiter and Invesco Perpetual.
In addition to the software program, Financial Services Online for Collective Investments (FSOL), the software provider DPR Consulting has constructed an interface between its own software for online sales and Rufus, the Bank of New York's administration system, which Lincoln uses. This streamlines the process of buying and selling online and better enables intermediaries to access up-to-date valuations.
Richard Walbach, director at DPR Consulting, said: 'We spent a lot of time speaking to fund managers and intermediaries who are all interested in bringing products to market more efficiently and in a shorter timeframe. We have designed the system to meet these demands.
'The software is component based and therefore is flexible and easy to implement and extend. It is designed to allow both financial advisers and end users to buy, sell or switch funds and obtain valuations of portfolios online.'
The software also tracks client sessions, allowing Lincoln to analyse the popularity of different products and to effectively cross-market new products.
Ian Bryce, IT manager at Lincoln Financial Group, said: 'The service is intended to provide a more cost-effective and user-friendly means of staying in touch with intermediaries and our direct customers and reduces the need for paper-based communication.'
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