A white label web service enabling advisers' clients to apply for ISAs without the need for face-to-face advice has been launched by Sinfonia Asset Management.
The offering, from the investment arm of Tenet Group, allows advisers to create an own-branded website, with their logos and imagery, for customers to complete an online ISA application in around 15 minutes.
Keith Richards, Tenet distribution and development director, says the move follows a successful pilot with two IFAs seeking to increase their use of technology.
"Products like ISAs, and also protection, can be made available more cost-effectively using technology to become part of advisers' overall propositions," he says.
More advisers are realising they need to improve their technology strategy, he says.
"Using a website in this way will also open up other business opportunities, especially if advisers make other services available to keep customers coming back to the site."
The personalised Sinifonia websites make available information on three actively managed funds; a ‘cautious' option, a ‘balanced' medium risk scheme and an ‘active' alternative for investors willing to take more risk.
A transfer facility means customers will also be able to consolidate their ISAs, while a parallel paper-based process is available for customers without internet access.
Andy Richards, managing director of Sinfonia, says the ISA season could be a key time for advisers to capitalise on technology.
"The ISA season can be an extremely busy period for IFAs, often involving a disproportionate amount of administration for very little reward," he says.
"This process can be used by all IFA firms and is designed to make both clients' and advisers' lives easier. In addition, it will help combat the banks' continued desire to poach clients from IFAs."
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