Technology

Welcome to the November edition of TechTalk from We Complement, where we bring you the latest updates in UK financial services. This month, we’re covering Scottish Widows’ new income protection offering on Iress, Intelliflo’s latest estate planning partnership with Estgro, and Close Brothers Asset Management’s innovative partnership with SEI. These developments highlight the industry’s rapid evolution toward more streamlined, client-focused solutions.

Scottish Widows Launches Income Protection Product on Iress’s Platform

Scottish Widows has just expanded its income protection (IP) offerings on Iress’s widely-used Exchange platform, enhancing its line-up of products available to financial advisers. “The Exchange” enables UK advisers to compare and source life insurance, critical illness cover, income protection, and other insurance products all in one place. This addition reflects Scottish Widows’ commitment to financial resilience and their goal to make IP products more accessible.

Rose St Louis, Scottish Widows’ Protection Director, explained, “Our new IP product helps people prepare financially in case they’re unable to work. By working with tech partners like Iress, we’re making it easier for advisers to provide clients with efficient, streamlined solutions.”

Iress’s Global Head of Product for Sourcing, Jacqui Durbin, expressed enthusiasm for the collaboration: “As long-term partners, we’re excited to help Scottish Widows expand into the Income Protection market and to support brokers with a wide range of products.”

Read more about the partnership here.

Intelliflo Partners with Estgro to Streamline Estate Planning

Intelliflo is helping advisers prioritise generational wealth planning through a new partnership with estate planning tech provider Estgro. Estgro’s tools integrate seamlessly with Intelliflo’s platform, giving advisers access to features like the “estate health check,” which pulls client data and offers tailored recommendations for wealth transfer and inheritance tax strategies.

With Estgro’s accredited network, advisers can digitally refer clients to trusted legal partners or manage beneficiary engagement early on, ensuring better protection for family portfolios.

Richard Wake, Chief Customer Officer at Intelliflo, said, “This integration is a key addition to our partner ecosystem. By bridging financial and legal services, advisers can now provide truly holistic advice.”

Dave Newick, Estgro’s CEO, added, “With £5.5tn set to pass between generations over the next 30 years, this partnership helps advisers prioritise legacy planning, safeguarding both client assets and business futures.”

Estgro –  Estate Planning Software for financial adviser

Close Brothers Asset Management and SEI Partnership Brings New Tech Capabilities

Close Brothers Asset Management has entered into a tech partnership with SEI, choosing SEI’s Wealth Platform and Data Cloud as core components of its growth strategy. SEI was selected after a detailed selection process and will work alongside Close Brothers to improve technology, data, and operational capabilities within the firm.

Gregg Clarke, Close Brothers Chief Operating Officer, said, “This partnership with SEI is a significant step in supporting our strategy and delivering consistent high-quality service for our clients.”

Additionally, Close Brothers will adopt Objectway’s Portfolio Management Solution and will use Winterflood Business Services (WBS) for order-execution activities. Some Close Brothers employees will also join SEI’s operations team, reinforcing the collaboration and future growth plans.

Jim London, CEO of SEI Investments Europe, expressed his excitement for the partnership: “We’re thrilled to work with Close Brothers to provide them with a full suite of tech, data, and operational solutions that align with their growth ambitions.”

These latest developments are a testament to the drive for innovation within the UK financial sector. At We Complement, we’re here to support you as these changes unfold. For more insights or to see how our services can help your business adapt, reach out to We Complement. Let’s work together to keep your business ahead.

Welcome to the October edition of Tech Talk, where we bring you the latest tech updates designed to help financial advisers streamline their operations and elevate their client service. In this issue, we highlight new integrations, sustainability-focused tools, and cutting-edge services aimed at making financial planning more efficient and personalised.

Transact Integrates with Moneyinfo for Automated Document Delivery

Transact, a leading adviser investment platform, has launched an integration with fintech provider moneyinfo, aimed at simplifying the delivery of client documents. This integration automates the process of sending valuation reports, statements, and other key communications to clients, freeing up advisers from manual tasks and enhancing operational efficiency.

With more than 2,000 adviser firms using Transact, this collaboration marks another step in the platform’s commitment to improving adviser processes through advanced technology. By using Moneyinfo’s secure portal and app, advisers can now ensure documents are delivered automatically, safely, and efficiently, while also benefiting from features such as encrypted delivery and audit trails.

Tom Dunbar, Chief Development Officer at Transact, said: “Our mission is to make financial planning simpler for advisers, and a key part of that is improving the tech ecosystem available to them. By integrating with platforms like Moneyinfo, we’re helping advisers work smarter, not harder.”

Moneyinfo’s Managing Director, Tessa Lee, added: “Advisers have been asking for solutions to make their administrative tasks more efficient. This integration not only saves time but provides peace of mind, allowing advisers to focus on what matters most: their clients.”

Moneyinfo integrates with Transact to simplify document delivery

Etcho: Aligning Wealth with Values

As ESG becomes increasingly central to investment discussions, Etcho offers a fresh approach by focusing on what really matters to clients—their values. Rather than overwhelming clients with complex ESG metrics, Etcho helps advisers personalise the investment experience by aligning portfolios with individual sustainability preferences.

Etcho’s innovative platform allows advisers to:

• Import clients’ holdings seamlessly with one-click integration.
• Use value profiling tools to understand the driving principles behind their clients’ decisions.
• Share personalised insights, helping clients see how their investments align with their values.
• Generate automated reports that support Consumer Duty compliance and reduce regulatory risks.

Co-founded by Liall and Charlie, Etcho’s mission is to make sustainable investing straightforward and engaging. By prioritising storytelling and personalisation, advisers can increase client engagement, especially among the next generation, who want their portfolios to reflect their values.

Etcho’s vision is clear: “Less about ESG metrics, more about what resonates with clients’ personal values.”

Etcho Align wealth management to what clients truly care about

Standard Life Launches Pension-Finding Tool to Reunite Britons with Lost Pensions

Standard Life UK has teamed up with pension-tracing platform Raindrop to help individuals find their lost pensions. With nearly 20% of those with multiple pensions admitting they’ve lost track of one or more pension pots, this free tool offers a practical solution.

Users simply provide the name of a previous employer and the timeframe they worked there—Raindrop’s technology does the rest. With the process typically taking between 4 to 6 weeks, a dedicated case manager provides updates throughout.

This new tool comes at a critical time, as an estimated 2.8 million pension pots in the UK, worth £26.6 billion, remain unclaimed. The collaboration aims to empower savers by giving them access to lost pension savings and helping them take control of their financial future.

Dean Butler, Managing Director of Retail Direct at Standard Life, emphasised the importance of tracking down pensions: “If you don’t know where all your savings are, planning for retirement becomes difficult. Our new pension-finding service removes these barriers and helps people regain control of their pension savings.”

Raindrop co-founder Vivan Shridharani added: “With more jobs and workplace pensions in the modern working world, the number of lost pensions will only increase. We’re proud to partner with Standard Life to offer a simple, effective way for individuals to track down and manage their pension pots.”

Standard Life and Raindrop launch revolutionary free pension tracing service

That wraps up this month’s Tech Talk. Stay tuned for more insights and tools to help you provide outstanding service to your clients!

Welcome back to TechTalk, where we bring you the freshest insights on the tools and tech transforming the world of financial advice! We’re particularly excited about this month’s edition, packed with useful resources and innovations to help you offer your clients even more tailored support. Grab a coffee and dive in.

Mabel Insights – Are You Onboard?

Paul Kenworthy recently managed to drag himself away from paraplanning and headed to the Professional Adviser roadshow in the picturesque town of Harrogate. There, he had a conversation with Martin Coyle about Mabel Insights. If you haven’t heard of Mabel yet, let us bring you up to speed.

Mabel Insights is an intuitive, free (yes, FREE) tool built exclusively for financial advisers. Think of it as your one-stop shop for comparing and analysing the Model Portfolio Service (MPS) and multi-asset market. Here’s why we think it’s so valuable:

• All-in-One Market Coverage: Mabel provides in-depth data on over 1,000 MPS portfolios from more than 80 discretionary fund managers. That’s right, all that data in one place, designed to make your life easier!
• Speaking the Same Risk Language: Mabel has its own risk rating system, allowing you to compare MPS portfolios using consistent risk metrics. No more guesswork—just clear, aligned results.
• Due Diligence & Reporting: Need to perform CIP research or put together a client-specific report? Mabel helps you stay efficient and thorough.

Lawrence Cook, CEO of Mabel Insights, perfectly sums up their vision: “It’s time advisers had wide-ranging access to MPS information across the market, and we’re thrilled to offer this free service to help them make better decisions for their clients.”

And in case you missed it—Mabel recently launched a cashflow planning tool, packed with advanced features like one-button tax optimisation and both deterministic and stochastic modelling. It’s another way to ensure you’re working with the most up-to-date, reliable information.

Explore Mabel Insights

The Importance of Care – My Care Hub

With an ageing population, we all know how challenging it can be to navigate care options. Did you know that by 2032, the number of people aged 65 and over needing care from unpaid carers is expected to grow by over a million? As advisers, it’s critical to have the right tools to guide your clients through these complex journeys.

Source: Carers UK

That’s where My Care Hub comes in. My Care Hub is an independent platform offering comprehensive care advice, designed specifically for advisers who want to support their clients through the entire care process. Whether your client is caring for a loved one or in need of care themselves, My Care Hub helps with:

• Identifying the Right Care: From finding appropriate care options to funding advice, My Care Hub simplifies the process so your clients get the guidance they need without all the confusion.
• Full Care Planning Support: My Care Hub is there every step of the way, helping you assist your clients as they navigate one of the most emotionally and financially taxing aspects of life.

Join Karl Steadman and Jacqueline Berry, MCC the founder of My Care Consultant on September 26th at 10:00 AM for a special webinar, where they’ll dive into how to approach care planning and funding in the right order. Plus, you’ll get an introduction to My Care Hub, the UK’s first online “one-stop shop” for all things care-related.

Register for the My Care Hub Webinar

To subscribe to My Care Hub and start providing your vulnerable clients who are caring or in need of care with valuable support to navigate their care journeys and avoid foreseeable harm, click here:

Enhance Your Skills with the CISI Certificate in Ethical AI

Interested in how AI is shaping the future of financial advice? The The Chartered Institute for Securities & Investment (The CISI) Certificate in Ethical AI is a fantastic opportunity to deepen your understanding of the ethical challenges and opportunities AI brings to the industry. Whether you’re new to the topic or looking to expand your expertise, this qualification is packed with interactive content—videos, interviews, and case studies—that will keep you ahead of the curve.

For more information on this valuable qualification, visit CISI.

This month’s Tech Talk is all about bringing you the tools and resources to help you provide even more value to your clients. Whether you’re looking to streamline your MPS analysis with Mabel Insights or need support for your clients’ care journeys through My Care Hub, there’s no shortage of ways to enhance your advice proposition.

So, what are you waiting for? Register for Mabel Insights at www.mabelinsights.com and don’t miss out on the My Care Hub webinar on September 26th. We’d love to hear how you get on!

In this issue, we’re bringing you a roundup of industry innovations designed to streamline your processes, enhance client service, and keep you at the forefront of financial technology. From Aegon’s cutting-edge pension transfer comparison service to Plannr’s game-changing integration with Transact, these updates are set to transform how you operate and succeed.

Aegon’s Pension Transfer Comparison Scheme

Aegon has just unveiled an innovative pension transfer comparison service, making it easier than ever for members to evaluate their old pensions. The new ‘red, amber, green’ system, developed in partnership with The Pension Lab, allows users to retrieve and assess their pensions with ease.

Here’s how it works: pensions are categorised as red, amber, or green based on their features and associated charges. Only those pensions without additional valuable features, and where the fees post-transfer into an Aegon plan are lower, receive a green rating. On the other hand, pensions with guarantees, such as defined benefit schemes, are marked red.

After a successful pilot phase, Aegon is offering members the convenience of a fully digital transfer process—no more paperwork. Transfers now take just over two minutes, saving both time and money. Excitingly, Aegon plans to extend this feature across all its Workplace platform products later this year, gearing up for the launch of Pension Dashboards in 2026.

Nick Roy, Aegon’s Director of Client and Partnership Development, commented: “Our collaboration with The Pension Lab is a significant step forward, offering our members a seamless and secure way to manage their pensions. This aligns perfectly with our commitment to enhancing the member experience.” Scott Phillips, CEO and founder of The Pension Lab, added: “Through our collaboration with Aegon, we’ve delivered another industry first with the provision of a fully digital non-advised pension transfer solution, which includes pension finding, detailed feature checking, and a bespoke charge comparison.

https://www.lifeinsuranceinternational.com/news/aegon-unveils-pension-transfer-comparison-service/?cf-view

Aegon unveils pension transfer comparison service

Standard Life’s New Annuity Tracker Service

Standard Life is making strides with Origo’s new Annuity Transfer Tracker service, revolutionising how advice firms manage pension-to-annuity transfers. This service, an extension of Origo’s Transfer Service, provides advisers and paraplanners with real-time updates on the progress of their clients’ transfers, all at the click of a button.

Jon Scannell, Head of Annuity Distribution at Standard Life, emphasised the benefits: “The Annuity Transfer Tracker will streamline our service, enabling advisers to quickly access transfer statuses and keep their clients informed. It’s a game-changer for both efficiency and customer service.”

Origo’s CEO, Anthony Rafferty, highlighted the broader industry impact: “Our new tracker significantly cuts down on time and resources for both providers and advisers. With seamless API integration, this service exemplifies how we’re connecting the industry to enhance performance and service delivery.”

Standard Life rolls out new annuity transfer tracker service

Plannr and Transact’s Integration to Boost Adviser Efficiency

Plannr Technologies and Transact have joined forces to supercharge the efficiency of financial advisers with a new integration. This partnership is set to drastically reduce the time spent reconciling income statements for financial planning practices across the UK.

By utilising Transact’s enhanced API, advisers can now feed income statements directly into Plannr’s Income Reconciliation Engine, eliminating the need for manual uploads and reducing the potential for errors. This integration is immediately available to all Plannr subscribers.

Gareth Thompson, Plannr’s Director, shared his enthusiasm: “This integration is perfectly aligned with our mission to equip advisers with cutting-edge tools. We’re setting a new standard in financial services for income statement processing.”

Transact’s Chief Executive, Jonathan Gunby, echoed this sentiment: “We’re thrilled to offer advisers a streamlined and secure process, eliminating manual work and saving time. Our collaboration with Plannr has been incredibly fruitful, and we look forward to further innovations together.”

LIVE! New Integration with Transact Automated Remuneration Statements

LCP’s New Tool for Widows & Widowers to Check State Pensions

In light of recent errors by the Department for Work and Pensions (DWP) affecting state pension claims, LCP has introduced a new online tool to assist widows and widowers in checking their state pension entitlements. The DWP has already paid out over £280 million in arrears to more than 23,000 individuals who missed out on inherited state pensions.

Given the complexity of the rules, LCP’s tool aims to simplify the process, helping individuals understand what they are entitled to inherit alongside their own state pension. If you or your clients want to explore this further, you can find the tool by clicking here.

DWP making new errors on widows’ state pensions – LCP launches new tool to help people check

At We Complement, we’re committed to equipping financial advisers with the tools and insights they need to succeed. If you’re looking to enhance your practice and better serve your clients, explore our tailored solutions designed to streamline your processes and elevate your business. Get in touch with us today to discover how we can support your growth.

Welcome to the latest edition of Tech Talk, your go-to source for what’s new and noteworthy in the fintech world. This month, we’re focusing on the exciting developments in wealth management and the innovative technologies that are shaping the future of financial services.

PIMFA WealthTech: Driving Innovation in Wealth Management

PIMFA WealthTech has launched a next-generation digital marketplace and industry network, aimed at fostering collaboration between wealthtech companies and wealth management firms. This initiative aligns with one of PIMFA’s key objectives: enabling digital business transformation through the adoption of market-leading technology.

In collaboration with NextWealth and CISI, PIMFA WealthTech has introduced the Financial Advice Business Benchmarks report. This annual market research report helps firms benchmark their proposition and stature, covering areas such as client growth, advice tech, advice charges, and industry trends.

Participating in this survey offers firms a valuable opportunity to contribute to a broader industry perspective and gain insights into their market position.

Firms can participate in this year’s survey here.

Enhancing Client Onboarding with Automation

PIMFA WealthTech and EY proudly present their latest report, “New Technology and Client Expectations in Wealth Management: A Focus on Client Analytics and Onboarding.” This report highlights evolving client expectations and the need for investment in new tech and data, featuring insights from their tech sprints with fintech firms.

Automation technologies are revolutionising client onboarding, improving efficiency and accuracy. Wealth managers can reduce onboarding time and costs by up to 50%, enhancing the client experience and fostering long-term relationships. Benefits of fintech solutions include:

• Enhanced efficiency

• Higher customer satisfaction

• Increased security and compliance

• Cost reduction

• Richer data-driven insights

Discover more here.

WealthOS: Transforming Digital Wealth Management

WealthOS is a cloud-native, modular platform designed to streamline the backend operations of digital wealth management. This platform allows wealth managers to focus on creating exceptional customer experiences by automating and orchestrating processes, reducing operational time and costs.

WealthOS enables rapid market entry for new products, achieving a 3x faster and 40% cheaper launch compared to other solutions. Founded in 2019, WealthOS is committed to building digital infrastructure that promotes equitable financial access globally.

Shri Krishnansen, Chief Commercial Officer at WealthOS, emphasised the importance of seamless client onboarding in securing client relationships. WealthOS provides the agility and speed required for digital transformation, addressing the challenges of disjointed and resource-heavy onboarding processes in the wealth management industry.

Moneyinfo: Award-Winning Mobile Experience

Moneyinfo has been recognised with the ‘Best Mobile Experience for Private Clients’ award at the Goodacre Systems in the City Awards 2024. This accolade underscores Moneyinfo’s dedication to delivering superior mobile experiences for its clients.

Key features of the Moneyinfo mobile app include:

• Client-Centric Design: Intuitive interface for easy financial management.

• Cutting-Edge Technology: Integration with leading portfolio management solutions for real-time updates.

• Unparalleled Security: Advanced encryption and security protocols.

• Proven Results: Increased user engagement and reduced operational costs.

Supporting over 180 firms, Moneyinfo stands out as a leader in client portal technology, offering features like consolidated portfolio reporting, secure document sharing, workflow automation, and advanced account aggregation.

Check out the other winners at the Goodacre UK Systems in the City Awards 2024 here.

The fintech industry continues to evolve, bringing innovative solutions that enhance efficiency, security, and client satisfaction in wealth management. From PIMFA WealthTech’s digital marketplace to WealthOS’s modular platform and Moneyinfo’s award-winning mobile app, these advancements are setting new standards in the financial advisory sector.

Stay tuned for more updates and insights in our next edition of Tech Talk for all the latest in fintech and wealth management innovation.

Follow us on LinkedIn and visit our website for more information.

AI Integration in Financial Advising

Nearly three-quarters (72%) of advisers believe that integrating artificial intelligence (AI) into their processes will be crucial for their business, but the majority feel unprepared, according to Intelliflo. More than nine in 10 (95%) advisers cited a lack of required skill sets within their business as a major obstacle. Despite these challenges, 46% of firms are either already using AI or have plans to incorporate it into their operations in the near future, based on findings from Intelliflo’s Advice Efficiency Survey 2024.

Digitalisation Needs

A significant 57% of firms expressed a desire for more digitalisation, particularly around note-taking and extracting key information from meetings, to alleviate some of the administrative burdens on staff.

Read the full survey here: Intelliflo’s 2024 Advice Efficiency Survey.

Innovations from Intelliflo Innovate 2024

intelliflo has rolled out several exciting announcements at their Innovate 2024 event:

💡 Wealthlink:

Going live in early August 2024, Wealthlink will allow advisory firms to enter client details just once and seamlessly access all Intelliflo services. This innovation will streamline the client journey from discovery and cashflow modelling to investment and client portal use. Wealthlink will simplify paraplanners’ tasks by significantly reducing admin time and eliminating re-keying errors, allowing them to focus more on value-added activities.

💡 Partnership with Aveni : Integrating AI specifically designed for financial advice experts.

💡 Partnership with Money Alive: Intelliflo will leverage Money Alive’s technology to offer integrated financial services educational content tailored to your clients. This partnership will create personalised video learning modules that address each client’s unique financial goals, preferences, and life stages. The videos simplify complex financial concepts into easily digestible narratives, making it easier for clients to understand.

Saturn’s Public Launch

Saturn AI’s smart tech allows Financial Planners to focus on the conversation with clients, knowing that key updates, conversation topics, and actions will all be documented automatically. And that’s just the beginning; the team’s roadmap looks incredible! Saturn’s mission is not just about reducing inefficiency around data but transforming the client experience and driving down costs.

After eight months of serving 40+ firms of all sizes and understanding their pain points, Saturn launched publicly last month. Today, 0.57% of regulated UK financial advice conversations are powered by Saturn, and this is just the start. The We Complement team has been using Saturn and has been blown away by how much it can improve efficiencies. We cannot wait to see them take over. Stay tuned for more developments.

Discover more about Saturn here: Saturn.

We Complement’s Support Services

At We Complement, we offer tailored support to ensure your technology integration is seamless and effective. Give us a call to learn how we can help you leverage technology to enhance your financial advisory services.