Way to success
• Canvassed views from core investors to inform advisers.
• Produced articles, blogs, webinars and videos so advisers can obtain information in their chosen format.
• Plans to integrate responsible investment at every level of the business.
• Focus on effective communication, getting key messages from experts to clients.
Parmenion
Actions in past year
• Launched an integrated income manager tool, bringing institutional-level retirement modelling capability to the retail adviser market.
• Upgraded its telephony system, enabling omnichannel routing, for more efficient use of resource.
• Relocated to new state-of-the-art premises, enabling it to scale operations as its business grows.
• User-tested and delivered Mifid II disclosures – going over and above regulatory requirements, because it is important that customers understand their charges.
• Continued to support advisers development with CPD-accredited courses and webinars.
Upcoming plans
• Implement a new workflow and case management system to scale processes as demand for services grows.
• Undertake a far-reaching paperless project, to reduce the need for paper and wet signatures.
• Start a phased overhaul of its system-generated literature, simplifying it for both advisers and clients.
• Expand and enrich an already comprehensive adviser knowledge base.
• Continue to develop and improve proprietary technology through two-weekly sprint cycles.
Sarah Lyons, chief marketing officer says: “Parmenion has continued to scale, innovate and build its service proposition over the last year. Ninety-seven per cent of queries received are resolved on first contact.
“Our live chat satisfaction rating sits at 4.7/5, while monthly knowledge base views have doubled since its 2018 launch. And to top it off, we were awarded Platform of the Year at the Schroders UK Platform Awards. This speaks to the commitment of our staff in making investing straightforward.”
Octopus Investments
Actions in past year
• Restructured to cross-functional teams to support advisers regionally.
• Implemented a new tool to track response times and service levels for emails and calls.
• Created an adviser board to gain ongoing feedback.
• Set up a customer forum to look at issues and trends and take appropriate action.
• Doubled estates and probates team to support those involved in the probate process.
• Focused on training, including nationwide seminars on intergenerational planning and partnered with industry bodies such as the Personal Finance Society and regulatory specialist Rory Percival.
• Continued to support paraplanners through training initiatives and partnerships.
• Set up professional connections hub for advisers to network with accountants and lawyers.
Upcoming plans
• Improve the adviser experience through online applications and portals.
• Organise informative events including seminars and webinars.
• Develop thought leadership on topical issues.
• Continue to innovate with product development, and new tools and resources.
• Listen to adviser feedback through the NPS scores and make improvements where needed.
Ruth Handcock, chief executive of Octopus Investments, says: “Over the last year we’ve launched a series of initiatives to support the adviser profession and continued to champion the importance of financial planning. We’d like to thank our advisers for their ongoing support and feedback.”