Developed in-house by Openwork, the new system calculates the cost of migrating existing holdings onto the platform, helping advisers decide whether it is appropriate to switch a client out of legacy policies.
Where the adviser determines that it is suitable to move a client onto the platform the system will automatically produce a report outlining the details of the decision.
Philip Martin, proposition and Marketing Director at Openwork, said: “As a support services provider it is important we understand intimately the processes behind the decisions our advisers make, enabling us to develop systems that can help them do their jobs as efficiently as possible.
“Building our own legacy transfer technology in consultation with our advisers has enabled us to develop a tailored system that can help accurately identify when it is appropriate to transfer clients onto the platform.
“This was a major technology build for Openwork and it again demonstrates our commitment to investing in areas that can help our advisers run successful businesses in a period of significant industry change.”
The new system goes live from 12 August and will be switched on for advisers as soon as they complete their training.
