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NS&I launches new phone services for financial advice firms

6 March 2018

NS&I has launched new services for financial advice firms via its Adviser Helpline.

These provide advisory firms with access to information on their clients’ NS&I holdings via the phone and are intended to significantly speed up the process of working with NS&I.

The new services available via the NS&I Adviser Helpline are:

  • Speed of access: Requests for information on clients’ NS&I holdings will now be almost instant.  Previously, requests could only be made by post and it could take up to 2-3 weeks for a response to be provided.
  • More client information available to advice firms:
    • Balances and valuations;
    • Annual and ad-hoc statements;
    • Maturity dates;
    • Transaction information;
    • Other account details NS&I holds.
  • New indefinite ‘Client Letter of Authority Template’: Letters of authority will now be held on file by NS&I indefinitely. Previously, firms had to supply a new Letter of Authority, signed by the customer, every time they requested information. Going forwards, only this new template will be accepted by NS&I, but once in place it will remain on file.
  • ‘Terms of Business Agreement’: There will be a new agreement between NS&I and each advice firm who wishes to have access to information on their clients’ NS&I holdings. This document forms the legal relationship between NS&I and a financial advice firm, and helps protect the relationship between both parties and their mutual customers.
  • Whole firm access: All staff in an advice firm (e.g. financial planners, financial advisers, paraplanners and other support staff) will be able to have access to client information, as long as the firm has signed and supplied a ‘Terms of Business Agreement’ and the relevant ‘Client Letter of Authority’ is in place.

Further information on these service enhancements is available on the Adviser Centre (nsandi-adviser.com.

NS&I said its Adviser Centre was dedicated to the needs of advisers, planners and paraplanners. It provides full information on its range of savings and investments; a resources area, featuring NS&I forms, leaflets and additional information; a news area, including NS&I news and also links to content from the HM Treasury website; information about the NS&I Intermediary Relationships team; and a selection of the most frequently asked questions.

Later in 2018, NS&I is planning to launch online access to information on clients’ NS&I holdings. This will be via secure log-in on nsandi-adviser.com.

Andrew Pike, head of Intermediary Relationships at NS&I, said the new features of the Adviser Helpline would mean that NS&I is able to provide a faster and more comprehensive service to advice firms. “We know that advisers often recommend NS&I products and are very supportive of our unique security guarantee, but they also tell us we could make life easier for them when contacting us. Therefore we expect these new enhancements will make a real difference.”

The Adviser Helpline number is: 0800 092 1228

 

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