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Intelliflo revamp boosts online contact between advisers and clients

Intelliflo is widening its role beyond being a back-office provider with changes to its client-facing portal which experts say mark a transformation in advisers’ ability to interact with their customers digitally.

Intelliflo is set to launch the next phase of the Personal Finance Portal in July, which will enable advisers and clients to communicate securely and access and review a client’s entire short and long-term financial portfolio.

The system can be accessed via mobiles, tablets, laptops and PCs, and is branded to individual advice firms.

A further option is available to integrate the system with Yodlee Interactive, which provides access to real-time data on clients’ bank accounts and credit cards, investment, protection, mortgage and loan accounts.

All 11,450 users of Intelliflo’s software package Intelligent Office will have access to the new services for unlimited client numbers.

Previously, advisers were charged £1 per client per month to access PFP. The PFP2 service will be included within Intelliflo’s core offering from July, for which the licence fee is increasing by £9.50 per month, regardless of the number of clients using it.

The Yodlee Interactive option is available at an additional cost of £1 per client per month.

Finance & Technology Research Centre director Ian McKenna says: “This marks a major change in direction from one of the largest adviser software suppliers.

“No other mainstream provider has brought together this level of personal financial management content for consumers. This will make personal finance more of a day-to-day issue for customers, particularly as it can be accessed through mobiles.

“Banks have found that customers who used to access online banking once a month now access their accounts every other day on their mobile, and that is the kind of stickiness advisers want to ensure their customers really value their service.

“Intelliflo users will get a whole lot more for only a modest increase in costs.”

Intelliflo executive chairman Nick Eatock says the technology will allow advisers to have regular online interaction with their clients to “complement” face-to-face meetings.

He adds: “The ability to view a client’s entire advised and non-advised financial portfolio and use tools that make sense of their day-to-day financial status, under advisers’ own brands, is a powerful resource.”

Plan Money director Peter Chadborn says: “This is an area we have been keeping a close eye on, as most advice firms are not very good at engaging with their clients through technology. Direct-to-consumer propositions are doing this already and advisers are kidding themselves if they think clients will come to them.”

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  1. After reviewing the market when we first started we chose IO for many reasons- but key was because of the commitment to the Customer Portal, which we saw as the only way forward for servicing customers effectively. This is excellent news that it is now being extended and will include bank accounts. We are hugely supportive of this. So please now- all product providers who aren’t working with IO yet and getting real-time valuations working- please get you finger out- pretty please. This is the only way forward.

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