Fund supermarket Selestia is looking to move much of its IFA information services online in a bid to provide faster turn-round for advisers.
The firm has already begun phasing out paper-based commission statements and is looking to move valuations and illustrations wholly online by the end of this year.
Selestia director Bill Vasilieff says the move is focused on providing greater accuracy and better service, partially in response to IFA requests. He says paper systems are problematic, with instances of commission statements getting lost or misplaced.
Selestia is redesigning its illustrations for the web and looking at making the online version as easy to use as possible.
Vasilieff believes the web solution will be more efficient for IFAs and says he aims to break industry habits to provide an easier way of working.
He says: “We have always had online functionality but have given advisers the option of doing the whole process on paper but we have now started to remove the paper option.
“The industry sends out a huge amount of paper and a lot of it is just thrown away. You cannot lose it if it is on the web.”