Fidelity FundsNetwork will offer advisers an enhanced way to process new business from Monday.
The revisions, initially only available for ISAs, will aim to enable ‘straight-through processing' of new customer business from initial disclosure and quote to sale.
In a significant change, advisers will be able to save partially filled data capture forms if interrupted during a meeting, without having to retype information or start the process again.
The platform will intuitively store information about customers from advisers' previous dealings with them for retrieval at a later date.
It will avoiding the need to duplicate information manually along the advice chain by pre-filling forms with information already entered.
Ed Dymott, head of UK fund partners, says: "Previously it was assumed advisers didn't want to enter much information in their initial customer meetings. But our research suggests they do. As part of our revisions we have tried to help them to build up fact finding information from the start."
Other changes include a drop-down service to pick funds which automatically filters options using a Google-style 'preferences' search, and a business-tracking tool which allows advisers to check the status of an interrupted application.
Finished forms can be sent directly to FundsNetwork online. Missing customer details can be added later using an automatically generated form, but the platform provider will use the data already online and only manually add the missing details.
FundsNetwork hopes the change will cut the margin of error in data capture.
Advisers will also be able to offer their customers more flexibility over how to pay, including using money they have held in the platform's cash account to set up an ISA.
FundsNetwork has also made it easier for advisers to create monthly savings plans by simplifying the way its direct debit forms are filled out online. It also recently raised the limit for payments via debit card to £50,000.
Following Monday's ISA-focussed launch, FundsNetwork plans to offer a white label version for execution-only advisers with a view to rolling out the process to pensions and insurance bond wrappers in the future.
FundsNetwork will also launch a research centre for funds in time for the ISA season, incorporating qualitative ratings from OBSR and Morningstar.
Peter Hicks, head of retail sales, Fidelity, says: "There are a lot of moves towards 'guiding architecture'. This is fine as long as you know who is doing the guiding. Working with OBSR is independent. There is no guiding from Fidelity on asset allocation or fund selection."
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