AJ Bell Investcentre has launched a pension commencement lump sum tracker, designed to streamline the process and save time for advisers.
Analysis by the investment platform shows that the tracker could save around 100 working days of adviser telephone calls over the course of a typical year.
The tracker, now available via the main client dashboard online, shows the status of PCLS payments and any subsequent income requests, allowing advisers to track progress and keep clients informed without the need to chase updates on the phone.
Advisers will also be able to see how many working days have elapsed since they submitted the PCLS request alongside the standard timeframe to make the payment.
Mark Rendle, advised product director at AJ Bell, said the need for “time-saving solutions” has never been greater.
“In a tax environment that has been embroiled in political speculation over the past few years, leading to uncertainty among clients and advisers spending more time than ever supporting them through it, the need for efficient, time-saving solutions has never been greater.
“Our new PCLS tracker for advisers will not only allow them to easily monitor the progress of client tax-free cash payments online, but it will also save around 100 days of adviser telephone calls over the course of a year.”
AJ Bell said this latest development adds to other enhancements it has made over the past 12 months, including its online Bed and ISA tool and partnerships with Woven Advice and Mabel Insights.
Rendle added: “This development affirms AJ Bell’s commitment to ensuring advisers have the tools they need to deliver the best outcomes for clients by saving them valuable time that they can deploy elsewhere. We are incredibly proud of the progress we’ve made improving our service and streamlining the adviser experience over the past 12 months, and we are excited about further enhancements to serve advisers and clients even more effectively going forward.”
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