Origo has launched a new online agency registration service aimed at saving advisers hours signing up with product providers.
Using the Adviserwise Agency Registration Service, IFAs will now be able to sign up with multiple providers via one electronic application, rather than the common individual paper registration system.
Origo says the first ever industry-wide service could cut the registration error rate from 40% to just 1%.
The free of charge system is currently backed by 12 providers and three advisory networks – Lifebox, Threesixty and Tenet.
Providers currently signed up are:
- Aegon SE
- Clerical Medical
- Friends Provident
- Legal & General
- Norwich Union
- Scottish Widow’s
- Standard Life
Origo managing director Paul Pettitt encourages other providers to get on board.
“It is Origo’s role and approach that enables key players to put their competitive differences aside and work together to eliminate non-value adding business processes,” he says.
“I anticipate it will quickly become the industry standard and preferred method for directly authorised adviser firms to submit agency registration applications.”
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