7IM has launched an automated transfer process for new transfers, aiming to cut times by up to 25% and reducing adviser admin as part of its platform transformation programme.
Shared today (22 July), the first phase of 7IM's transformation programme introduces an automated system for new pensions and investment transfers, which should reduce the need for manual form-filling and reducing transfer times by up to 25%. 7IM said this development follows "extensive" adviser feedback, which highlighted widespread industry frustration with "slow and opaque" transfer processes. According to The Pensions Regulator, the average time to switch a defined contribution pension is currently 31 days. To complement the automation, 7IM said it has "significantly upgraded" ...
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