Back office technology firm Iress is launching its "next-generation" client portal which advisers will be able to fully customise.
The portal will be available to advisers who already use Iress's XPlan technology and can be used to send messages and documentation to clients, as well as allowing them to see their portfolio and its performance, if the adviser enables this function.
Mark Loosemore, Iress's executive general manager for wealth, said new rules such as the General Data Protection Regulation were driving adviser interest in client portals.
He said: "The single biggest thing about the portal is security, because people have realised they cannot email personal data around the business anymore. It is not acceptable in this day and age.
"Doing it through a client portal is far more secure as a mechanism so GDPR has changed the appetite in the market for taking one on."
The Iress portal will allow clients to see portfolio asset allocation and performance data in an interactive design, but advisers can also have this function turned off if they prefer their clients not to be able to have access to this information.
It also allows for two-way sharing and the electronic signing of documents and the design of the portal can be customised so it matches an adviser's brand both in colour and style.
Richard Ross, digital product manager at Iress, said: "Today’s financial advice businesses need to deliver a professional and personalised digital experience to their clients, offering an accurate perspective of their investments and financial life.
"Our new client portal provides a secure and straightforward way for financial professionals and their clients to engage and communicate with each other 24/7 and can be delivered at scale and with ease.
"Significantly, Iress’s new client portal allows businesses to increase profitability through the effective engagement and servicing of their client base as well as efficiently acquiring new clients."
Mr Ross added that Iress was looking into extending the portal so it could take advantage of the Open Banking reforms to include other services, such as pre-populated fact finds.
damian.fantato@ft.com
