Origo has launched a service to help advisers track the progress of pension, general investment account (GIA) and Isa transfers.
Origo said the product would reduce the amount of time, and expense, required of advisers when they wished to transfer to a different provider on behalf of a client. The service aims to provide easy integration with platforms and call centre applications.
The service is provided through Origo’s integration hub and the company said it had more than 100 financial advice firms as clients using its integration hub.
Anthony Rafferty, managing director at Origo said: "Our Transfer Tracking service was designed to benefit platforms and advisers. One of the challenges advisory firms face in getting their job done is not knowing where a transfer might be in the process from one provider or platform to another.
"Often that means getting on the phone to try to find out. In the meantime advisers have to manage their client expectations.
"Our new service enables providers and platforms to deliver the data in real-time online, doing away with the need for phone calls to keep advisers up-to-date on transfer progress.
"This means they are not only able to deliver a better service to their adviser customers but to significantly reduce the time and money they spend in dealing with phone calls, thereby freeing up resources which can be used elsewhere in the business."
The Financial Conduct Authority recently highlighted the obstacles faced by advisers wishing to transfer to an alternative platform as a cause for concern and the regulator's platform market study found it can often take as much as 15 hours of a firm's time to transfer from one platform to another.
david.thorpe@ft.com
