A tool launched by P1 Platform will reduce an “onerous” admin burden for advisers, the company has said.
The report pilot tool should allow advisers to create annual client reviews in a few clicks rather than between 30 minutes to two hours.
The new tool can also be used for investment and pension reviews as well as client and product review reports.
Chief executive of P1 Platform, James Priday, said: “We understand how onerous it is for advisers to create detailed yet easy-to-understand client reports, creating an unnecessary time-sap for financial advisers and wealth managers.
“It doesn’t have to be this way. P1’s Report Pilot feature significantly reduces the time and effort involved in creating client-ready investment and pension reviews.”
The reports created in the platform can be downloaded into a client-ready format.
Each one is broken down into sections covering regulatory disclosure requirements and projections over a time period specified by the adviser.
They also feature graphic representations of the data to make them easy to understand.
Priday added: “We are committed to freeing advisers from unnecessary admin drag, so they can focus on advising clients, which is where they deliver real client value.”
In June 2023, P1 released another tool which allowed advisers to integrate the software they use with the P1 Platform.
tara.o'connor@ft.com
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