Practical Tech Insights for Paraplanners & Advisers
Welcome to the May edition of TechTalk! This month, we’re diving into the latest tech developments in financial services, with a focus on tools and innovations that can make your day-to-day work more efficient and client-focused.
🧠Enhancing Client Understanding with Psychometric Tools
Scottish Widows has integrated a psychometric testing tool into their platform, developed in collaboration with Oxford Risk. This tool assesses clients’ risk attitudes, knowledge, and composure, providing deeper insights into their financial behaviours.
Why it matters:
- For paraplanners: Gain richer client profiling data during onboarding.
- For advisers: Tailor investment strategies that align more closely with client behaviours, potentially reducing reactive decision-making during market volatility.
👉 Learn more about the integration
🔧 Streamlining Platform Operations: The Platforms Association
A new body, the Platforms Association, has been established to address common challenges in the investment platform sector, such as re-registration delays and inconsistent tech interfaces. Members include major players like Aegon, Quilter, and Fidelity.
Why it matters:
- For paraplanners and advisers: Expect improved platform interoperability and service standards, leading to more efficient client onboarding and management.
👉 Read about the Platforms Association’s goals
đź“Š Advancing Pension Visibility: Origo’s Dashboard Connection
Origo has successfully connected to the UK’s pensions dashboards ecosystem, a significant step towards providing clients with a consolidated view of their pension pots.Why it matters:
- For paraplanners: Simplifies the fact-finding process by aggregating pension information.
- For advisers: Enhances the ability to present comprehensive retirement planning strategies.
👉 Discover Origo’s role in the pensions dashboard
đź“‘ Standardising Data Requests: The LoA Data Checklist
The LoA Data Checklist, developed by the Fix LoA Action Group (FLAG) and maintained by Criterion, is gaining traction with over 70 firms adopting it. This standard aims to streamline the process of obtaining information through Letters of Authority.
Why it matters:
- For paraplanners and advisers: Reduces administrative burden by clarifying the data expected from providers, leading to faster and more accurate information retrieval.
👉 Explore the LoA Data Checklist
đź’° Meeting Client Demand: AJ Bell’s Gilt MPS Launch
AJ Bell has introduced a new Gilt Model Portfolio Service (MPS), offering a low-cost investment option amid growing adviser demand for gilts. The service features a management charge of just 0.10% per annum and is available with a minimum investment of ÂŁ10,000.
- For advisers: Provides a tax-efficient, low-risk investment option suitable for clients seeking stable returns.
👉 Learn about AJ Bell’s Gilt MPS
🔍 Final Thoughts
The financial services world is evolving fast, and it’s clear that tech is no longer a ‘nice to have’—it’s central to how paraplanners and advisers deliver value, stay efficient, and serve clients better. From smarter client profiling to platform improvements and clearer data standards, these developments are all about making your day-to-day work easier and more effective.
At We Complement, we specialise in supporting financial planning businesses behind the scenes—whether that’s paraplanning, streamlining operations, or helping you adopt the right tech tools without the overwhelm. If you’re curious about how we can help, pop us a DM here on LinkedIn or drop us an email at hello@wecomplement.co.uk. We’re always up for a chat.
