Intelliflo has added a top-up facility to its Automated Advice service available to advisers through the Intelligent Office (iO) Personal Finance Portal (PFP).
Automated Advice enables clients of advisers using the service to access risk-rated portfolios via the Cofunds platform from six fund providers: 7IM, Architas, Legal & General Investment Management, SEI Asset Management, Standard Life Investments and Vanguard.
Nick Eatock, executive chairman at Intelliflo, says: “Our Automated Advice service equips advisers with the tools to compete with banks and large financial corporations by enabling them to offer clients self-select ISA and GIA investment portfolios. The top-up facility means clients who opt to select and manage their own investments without involving the adviser can now build their savings quickly and easily.”
The service includes a configurable advice process incorporating attitude to risk and investment projection tools, enabling clients of advisers using the service to experience a fully online and automated process.
The risk profiling tools have been developed in partnership with Oxford Risk, experts in the field of risk and analysis.
Investments made by clients are available for advisers to view so they can monitor activity. All investments and selections made have a complete and comprehensive audit trail with the ability for the adviser to configure in “stop scenarios” whereby a client cannot continue. This allows advisers to intervene and offer tailored advice if they believe clients would benefit from alternative options.
The cost of the service is determined by the fund charges within each investment solution, the Cofunds’ platform charge and the adviser’s own charge, which is flexible to them. Charges are transparent so clients are able to make an informed choice before using the service.
Robin Hall, managing director of Kymin, which launched the service to its clients in January 2017 says: “While self-select investment options aren’t new to the market, the concept of advisers offering clients direct access to investments such as ISAs and GIAs is very different. I think it’s an ideal way for advisers to meet the needs of clients with modest means but who want to access stocks and shares investments in a tax efficient, cost effective way, while having the comfort of knowing there is an expert on hand if they need them.”