IFA network Positive Solutions is launching an online service for clients to monitor their own details and policies.
The e-business system will provide individual integrated websites for its members and their clients. It will allow customers to access and track their policy data, including valuations of policies.
The network already gives its member IFAs, which it terms partners, 24-hour access to pipeline and client details.
PS says the system will benefit partners by keeping costs down. It allows commission payments to be made daily.
The network says it expects to reap the benefits of this approach in terms of cost-savings and freeing IFAs' time for client servicing. It says it expects all IFAs to be using similar systems in the future.
Chief executive David Harrison says: “We were fortunate in being able to build face-to-face sales distribution around new technology rather than having to adapt and overhaul ancient paper-based systems. Already, it is giving us a competitive advantage.
“Our partners can get on with doing what they are best at while clients benefit from speed and transparency.”