Advisers’ destiny is in their hands but it is important to support them through the challenges this year will bring, Linda Todd has said.
The head of operations for support services provider Bankhall, part of the Sesame Bankhall Group, said there was a clear need to help educate and work with member firms across a wide range of regulatory and industry-led initiatives this year.
She said: “We are currently in discussions with a range of preferred providers to help advisers meet their various business needs.”
This will include a pensions technical support team to help advisers with the new pension reforms. This solution is still being finalised, along with Bankhall’s new paraplanning solution.
She said: “We are putting together/have put together teams to help advisers get ready for the pensions freedoms in April.
“The Pensions Regulator spoke at SBG events in November and we are planning to do more events in February to engage with our firms.”
Other preferred partnerships, which will be announced in various stages throughout the year, will include a tax advice solution for paraplanners to help them research and undertake reviews, as well as accountancy support.
She said there will also be support offered for advisers to help them with their use of social media.
The new social media support package will be based around how to market an advisers’ business using social media. In addition, Bankhall already supports firms with checking content to ensure this meets regulatory requirements.
Bankhall has already been engaging with preferred providers such as Phil Billingham Associates, which from March this year will be on hand to help Bankhall members with business support issues. Bankhall has also teamed up with insurance specialist Howdens to give members a discount on their professional indemnity cover.
Ms Todd also pointed to an incoming European Union Data Protection Directive, which is still to be finalised but which will put an onus on all firms to undertake extra steps to protect client information.
Last year, Bankhall launched Dataspace to help its members. The service is a data and document management solution, which aims to help firms meet regulatory requirements as well as the Data Protection Act by giving advisers the ability to store and track all client and confidential records safely.