Intelliflo is set to launch a new simplified investment advice service this summer to clients of advisers using the Intelligent Office Personal Finance Portal.
The software provider has promised a configurable process incorporating attitude to risk and investment projection tools, developed in partnership with Oxford Risk.
Advisers can choose from a suite of risk-rated default investment solutions, rated by Square Mile Investment Consulting and Research.
Meanwhile, Cofunds has been selected for trading, execution and payment of Isas and a General Investment Account.
Investments made by clients will be available for advisers to view, so they can monitor activity and have access to a comprehensive audit trail, with the ability to set “stop scenarios”.
Nick Eatock, Intelliflo’s executive chairman, said the simplified service has been designed to give advisers a tool to service clients who want easy access to investment options for reasonably modest amounts of money.
He said: “Typically, these clients will not want or need face-to-face consultation with a qualified adviser – or the costs associated with personal advice – for these sorts of investment decisions and would otherwise go elsewhere.”
The cost of the service to end clients will be determined by the fund charges within each investment solution, the Cofunds’ platform charge and the adviser’s own charge, which will be flexible to them.
David Hobbs, chief executive of Cofunds, said following the Financial Advice Market Review, advisers will be even more focused on how they can use technology to reach clients with simple needs who cannot or will not pay for advice.
Les Sharpe, managing director of Surrey-based IFA Clairville York, said he plans to use the service when it launches in the summer, having already been a Personal Finance Portal user for higher value clients.
Mr Sharpe said: “This addition facilitates our ability to provide a light touch self-service solution for other clients, including employees and early savers, who cannot currently afford our full service, but still require guidance from their adviser.
“The ability to configure the technology by firm will enable us to compete with the big boys, but on a more personal basis.”
peter.walker@ft.com
