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Tenet signs tried and tested software solution
Tenet Support Services has entered into a long-term agreement with True Potential, which will see the latter recommended as a technology partner.
The agreement means Tenet will offer its members access to a software solution that has already processed more than £88m of fees and commissions to date this year.
Keith Richards, distribution and development director of Tenet Group, said: "As more and more IFA firms seek technology to improve process efficiencies and the overall financial effectiveness of their business, the True Potential system impressed us above other solutions in the market for functionality and ease of use.
"Its claim that the system has been designed by advisers, for advisers, was evident throughout our review and testing."
Tenet will also be able to use the system to offer enhanced compliance support to firms including online file reviews, pre and post-sale approvals and technical guidance.
Mark Henderson, senior partner of True Potential, said: "I am sure that TSS firms will see the benefits of this agreement immediately; building their practices on our robust, online technologies will allow them to run their businesses more efficiently than ever before and will deliver vastly increased levels of wealth and control."
Ian McKenna, technology industry commentator and head of the Financial Technology Research Centre, said technology was transforming the way consumers selected and maintained products and services and financial services was not be immune to this.
He said: "With the current state of the financial markets there has never been a time when it is important to achieve benefits through the effective use of technology."
