Accountant and consultant Grant Thornton's Private Client Services advisory business is set to finish rolling out its new software solution from 1st Software by June this year, which should "increase efficiencies".
The back office element has already been put in place, and the business is now moving forward on implementing the front office element, according to national financial planning director Ann Bristow.
”It will be a replacement for an earlier one,” Bristow says of the Adviser Office software, although she does not identify which software product has been ditched.
Reasons cited for the change include less reliance on paper-based processes for compliance, and the ability - along with the implementation of the solution - to migrate all relevant GT business to a single database as different types of business previously had to rely on different databases and reduced efficiencies.
GT will also be spending time “training the trainers” who will ensure those in its Private Client Services advisory business are up to speed on use of the software implemented.
Private Client Services focuses on holistic advice to high-net-worth clients.
No costs have been given for either licensing of implementation of the new solution.
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