Chartered accountancy body ICAEW and technology company RQ have announced the rollout of an online platform for chartered accountants to give them insight into the financial needs and goals of their client.
The firms said the software was designed to provide a space for collaboration.
Under the agreement, RQ will provide ICAEW firms with free access to the platform in exchange for input and support from ICAEW.
Philippa Hann, head of solicitor engagement at RQ, said: "RQ is driving something really special for the clients of professional advisers.
“The future of professional advice is joined-up, collaborative thinking between professions, which puts the client at the centre.
“That way, we can improve outcomes for our clients, understand them better and understand the roles that other professionals play in our client's lives.”
Hann added: “Technology provides the answer to low-value repeatable work, so it can provide the answer to deepening our relationships with our clients and other professionals."
The firms said referrals from accountancy firms are an essential source of new clients for many IFAs, mortgage brokers and other professionals, but remain largely 'untapped'.
John Gaskell, head of personal financial planning at ICAEW, said: "We are pleased to have worked with RQ to design this technology platform which will enable ICAEW members to collaborate with other professionals on advisory services.
“ICAEW Chartered Accountants have a long and successful track record helping SME businesses remain competitive, and this software will help strengthen client relationships and drive more value."
RQ said its platform removes the obstructions that have historically impacted referral activity and collaboration, including accountants lacking the data on their clients' personal circumstances, uncertainty around their compliance and regulatory obligations and uncertainty around how best to integrate into their wider offering.
Johnny Ridd, chief executive officer at RQ, said: "I am extremely grateful for the Institute's support and input as we've developed the RQ platform, and I'm excited to announce this partnership and continued collaboration.
“Our technology will help chartered accountants build higher-margin practices and work more closely with their clients.”
Meanwhile, Sarah Ghaffari, director communities, business and practice at ICAEW, added: "We know there have been barriers to closer collaboration between the professions, and we think this platform will help break down these silos and put our members at the heart of a professional eco-system.
“Our collaboration with RQ represents an important component of ICAEW's wider drive to help enable members to take advantage of technology solutions that can drive business growth."
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