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Launchpad: Technology: Personal Touch customer management

Toolbox is Personal Touch’s customer relationship management system used by members on a daily basis to manage client communications and support new business development.

The new adviser charging functionality now supports different charging structures selected by advisers and caters for the various options of payment selected by their clients.

Some of the changes to the Toolbox system:

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- The commission reconciliation module is now capable of handling fees that are paid via provider payments without adviser intervention.

- Functionality that allows legacy commissions and multiple introducer payments to be processed online.

- Adviser charging allows each firm to submit its monthly fee returns showing all fee agreements from the previous month and the invoices raised, in line with FSA reporting requirements.

- Advisers are able to produce statements detailing advice charges due, payments received from product providers and outstanding charges, which can be exported to an accounting system of choice.

Adviser verdict

Jonathan Fry, director of London-based Jonathan Fry & Co, said: “Clearly, having an efficient back-office process is absolutely vital for any advisory firm; there is no doubt about that these days. Whatever improvements have happened in the past with platforms and networks need now to be replicated as far as RDR is concerned and I think any institution that is providing a platform has got to be providing something that not only facilitates adviser charging, but also integrates it automatically into their back office.”


David Carrington, marketing director of Personal Touch, said: “The changes we have made to our technology ensure that it is very intuitive, easy to use and most importantly flexible enough to cater for our members’ choice of charging structures under the new MMR and RDR regulations.”