NS&I pledges closer links to advisers

Paper chain family held up to sunsetNS&I has reaffirmed its commitment to working closer with financial advisers as it lines up a series of service improvements for later this year.

In its annual report, released this morning, the government-backed savings bank confirmed that its plans earlier this year to give financial advisers telephone access to clients’ NS&I holdings had gone to plan, allowing firms to provide a “faster and more comprehensive service”.

It also expanded its adviser helpline in March, launching a new client reporting service for advisers.

NS&I says it plans to deliver full online adviser access to clients’ holdings by the end of the year.

The report reads: “We continue to improve our services to financial advisers, enabling them to do more on their customers’ behalf and receive targeted information from us.”

The report also says more advisers say they are likely to recomend NS&I products to their clients, with a score of 8.5 out of 10, the highest for the three years it has collected the data.

Other plans involve setting up indefinite letters of authority, and a new terms of business agreement between NS&I and advice firms. This could potentially be expanded to allow advisers to transact on behalf of clients in the future, NS&I head of intermediary relationships Andrew Pike told Money Marketing late last year.

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