New tool aims to simplify platform transfers

13 April 2021

Platform technology provider Seccl has launched a new tool to help simplify the platform transfer process for advisers.

The new dashboard will enable advisers to track the progress of their clients’ cash and assets as they move from other providers, giving them access to each transfer’s status, previous provider, estimated value and the total time that has lapsed since it was first instructed. Advisers can also find an asset-by-asset breakdown of each client’s pending transfers.

The tool will also allow advisers to input the book cost of assets that are being transferred without having to leave the system.

Dan Marsh, head of customer, Seccl, said: “Platform transfers are still a nightmare for advisers and their support teams, who are forced to endlessly chase providers for updates and maintain unwieldy spreadsheets to track the progress of their clients’ assets – as well as ask them to manually edit book costs.

“Advisers using Seccl-powered platforms can now do all this straight from their transfers workbench, introducing some much-needed transparency and efficiency to an obscure and clunky process.”

Howard Finnegan, sales director, Altus, commented: “Electronic transfers have gone a long way into transforming the process. But there is still much work to be done. Some parts of the transfer process still rely heavily on paper, which has a considerable cost and time impact.

“With its industry-leading transfers workbench, Seccl is taking a great and innovative step forward. By giving up to the minute, readily-available information on how a transfer is going, Seccl has set a new benchmark for what advisers and clients can, and should, expect from a platform transfer: a quick, paperless and completely transparent process.”

Professional Paraplanner