Nucleus has added several functions to its platform hoping to help advisers manage trades more efficiently.
The platform added trade-on-trade functionality, which allows advisers to place trades on funds when existing trades are already pending with no delay in waiting for the original trade to settle.
According to Nucleus this would speed up the trading process in a number of advice scenarios, including where clients are selling down a proportion of their holdings or carrying out Isa instructions for a couple.
Trade-on-trade functionality also means clients can gain access to their money more quickly.
Mike Barrett, consulting director at the Lang Cat, thought the move would likely make the platform better for advisers.
He said: “Generally advisers don’t have to trade that frequently however when they do want to trade they don’t want to find that something else is happening and you can’t.”
The functions will also mean advisers can bulk buy and sell funds faster, according to Nucleus, through the platform’s new interface which aims to make it easier for users to select and include clients for specific switches.
Other changes include updated ‘pension wake-up packs’ — which the platform sends out to clients at key milestones — which will be issued online, on-screen feedback to help users when entering bank details, and signposting to help find previous correspondence on the platform’s library.
John Walls, head of proposition at Nucleus, said: “We are committed to making our user experience as efficient and streamlined as possible and these exciting additions to our platform continue to help support advisers in creating brilliant outcomes for their clients.
“Bulk switching will dramatically reduce the time spent on trades, giving advisers more time to spend on planning with their clients. The addition of trade-on-trade also delivers direct benefit to clients, allowing them to get access to their money sooner.”
imogen.tew@ft.com
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