Skandia has launched a new Isa website and tool which it says will help advisers to unlock an estimated £2bn of unused Skandia Isa allowances.
The service is offered free to the 10,000 advisers registered on the Skandia Wrap. Skandia says it will help advisers to identify clients with unused allowances and allow advisers to tailored communications and application forms for a whole book of clients.
Skandia says advisers can link to the Isa website direct from their Skandia Wrap without need for registration. The tool will automatically recognise the adviser, existing clients and their potential remaining Isa allowances.
The adviser can filter clients by the amount of Isa allowance outstanding and build a portfolio of funds appropriate to clients of different risk ratings.
Skandia head of platform marketing Peter Jordan believes advisers will be able to save hours in administration work by using the service.
Personalised cover letters are produced alongside key features documents and pro-populated application forms for each client.
The company estimates its Skandia Wrap users have clients with up to £900m unused Isa aollwances this tax year and up to £1.25bn in allowances for next year.
Jordan says: “The biggest mistake investors can make this Isa season is to shy away from the market due to market volatility. Although investors with structured asset allocations will have high degrees of confidence other investors can gain confidence by developing a structured approach to asset allocation, holding cash temporarily pending investment or to phase this year’s investment in to the market.
“Either way there is a substantial opportunity among existing investors. The key for advisers is to capture this opportunity economically with the help of our new Isa service.”