1st- Exchange will combine its back office software solution Adviser Office (AO) with wrap provider Wealthtime.
Advisers will be able to access information on current cash balance data, unit holdings and other assets through a direct messaging service from the Wealthtime platform via the AO e-Services module.
The service will also enable more providers to receive electronic updates on client data, offers client valuation reporting and removes the need for re-keying of data by advisers.
David Child, managing director of 1st - The Exchange says: "With the continued growth in the number of providers now partnering with us, our advisers have access to the widest range of products and services on the market.
"With the addition of Wealthtime our users can now receive a completely automated scheduled bulk update on all investments, cash and portfolio assets held - offering significant time savings on valuation and client servicing activities."
Jan Regnart, CEO, Wealthtime adds:"We are delighted to have this connection with 1st - The Exchange, which together with Wealthtime's intelligent remodelling functionality provides both a cost and time saving technology based service to our advisers."
'Necessary steps' taken
Penalty payments and enforcement policy
Fees as low as 0.04%
Client procurement costs ‘unsustainable’
Only 9,486 applied for the benefit in 12 months