The system provides a service that will reduce admin costs, increase productivity and strengthen the ability of advisers to meet regulatory obligations. As an end-to-end system, all the processes required by firms from point-of-sale through to client liaison are included.
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As part of the system, True potential has launched an ‘end-to-end’ administrative and support system including live online business processing, automated commission handling and reconciliation and creation of comprehensive customer relationship management reports.
Created by elements of the management team who built Positive Solutions, True Potential is independently owned and operated but participating companies will be able to build a stake in the business.
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David Harrison, managing partner at True Potential, said: “True Potential delivers a single, streamlined pipeline that exploits the full advantages of e-commerce. Tasks that can take weeks or days using traditional methods such as letter, phone, e-mail or fax can be completed in minutes from any location and at the adviser’s convenience.
“Reducing admin tasks and cost for advisers means they have more time for clients and there are greater savings to be made for the industry at large. The potential is then created for these greater cost-savings to flow through to consumers.”
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Peter O’Donovan, mortgage manager at Bestinvest, said: “I suppose it comes down to costs. The time spent doing admin work does cost and anything that assists in getting it done has to be positive. We’ve got to see how it works before committing to it.”
