The client bank segmentation tool provides analysis of an advisers client data, helping them to decide on the right business model and proposition for RDR.
It also enables advisers to integrate and download client data from as far back as 2006, as well as incorporating analysis functions and utilities.
Where there is a lack of past data, Openwork will provide examples to ensure all advisers are fully prepared for upcoming changes.
It has also made changes to its online cashflow modeller with the addition of existing “soft” income streams.
Openwork said the upgraded modeller will help advisers understand the impact on their cash flow when moving legacy assets onto a platform, while enabling them to more effectively model inflows.
Its RDR toolkit, provides support for the financial and client analysis work that needs to be undertaken by advisers ahead of RDR.
Openwork recently began to move advisers across to fee-charging business models as part of a pilot trial that will lead a network-wide roll-out of its transition programme.
Phil Mogford, programme director at Openwork, said: “These latest enhancements to our RDR programme have been developed in consultation with advisers in our pilot trial and are designed to make it easier for them to move their clients across to fee-charging while understanding the financial impact of doing so.
“We will continue to work closely with our advisers to guide them step-by-step through the transition to the RDR and to ensure our support remains as pragmatic and comprehensive as possible.”
