View more on these topics

Online tool can make IFA service cost-effective

Sammedia has set up an online client-facing service called Moneyinfo to enable advisers to continue servicing lower-income clients after the retail distribution review.

The technology firm says it allows advisers to offer a cost-effective service by automatically updating advisers’ fact-find data and providing daily updates on portfolios.

Clients can access daily banking transactions, categorise spending and implement budgets.

The tool costs firms £75 a month and client charges start at £1.67 a month but this varies depending on how many clients advisers sign up.

Operations director Tessa Lee says: “There has been much talk about how the need to justify ongoing charges will force advisory firms to focus only on clients that will be profitable after the RDR.

“Typically, this means clients classed as high-net-worth, because until now there has not been a viable way for firms to service clints in lower wealth brackets profitably. Moneyinfo changes that.”

Bloomsbury Financial Planning partner Jason Butler, who is testing the service, says: “Moneyinfo is a killer solution which enriches clients’ interaction with us.”


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm