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Timebank targets IFAs with online data exchange deal

Timebank has set up a website with an online data exchange aimed at providing technical support for IFAs.

Advisers can upload work requests, monitor case progress and download finished service material.

Founder Damian Davies says the product differs from anything else on the market as it does not provide a package but is a bespoke service structured around individual needs.

Timebank also provides a manual report writing service, reviews client portfolios and carries out marketing work for IFAs. So far, 17 IFA firms have signed up for the service.

It is free to access the online data exchange, which acts as a virtual office for IFAs. Costs for other services are arranged individually, with a typical ad hoc fee ranging from 250-350 for a report.

Davies says: “We took the decision to launch the online data exchange to streamline our immediate service further and also serve to offer our clients a real advantage in what will become an increasingly competitive, depolarised market.”

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