When the team at Oakwood began researching the wrap market in 2010, we had a number of questions and issues to satisfy. The most important of these was definitely -will it be of benefit to the client and what will the client gain?
We felt a good platform can help achieve this by adopting a transparent pricing structure that would help us continue to treat our customers fairly through not overcharging and offer clear direction on the costs themselves.
As our business moves towards the RDR in 2012, I also needed to be sure my business is ready and viable. Adoption of the right platform would allow us to move from commission to fee-based income and was a major factor to consider. This would help us achieve an all-important fee and fund charge transparency.
So when True Potential gave notice of the pending launch of its investment platform, I had high expectations to see how it would combine the right charging structure with my business and deploy its ethos of “simple, effective, unique”.
It launched last month and I have not been disappointed so far. The pairing of the True Potential system itself and the new investment offered, for me, the first proper linkage between my clients’ current data, investments and needs and gave me an output that could deliver value to all.
Having used the platform several times now, I am pleased at the ease of use. My clients are happy with the service I am able to provide, regular rebalancing of the investment – consistently matching the investment risk to the client’s attitude to risk profile helping meet strict investment criteria. The partnership with SEI provides intelligent portfolios at a market-best price and gives my clients access to a unique product.
Technology is high on the adviser agenda. Long gone are the days of paper files, poring over spreadsheets and colour charts. Today, this is available electronically at the press of a button which is current and spec- ific to the client. These reports and charts are very accurate and I use the client’s personal websites to publish these documents online for my clients own understanding and future reference.
Streamlined real-time valuations are a great positive for the discerning investor and this is providing benefit to our clients. These valuations have been combined with the rest of my True Potential system, meaning my clients can access their value from the web or their phones.
With this combination of offering low charges, high-end technology and access to a level of detail and analysis previously not available I am able to offer my client a far higher level of service than ever before.
Stewart Jones, Oakwood Insurance Consultants and Financial Services
If you would like to speak about your wrap and platform experiences in Money Marketing, please get in touch with reporter Sam Macdonald at sam.macdonald@ centaur.co.uk