AJ Bell Investcentre is pleased to announce its partnership with adviser software firm Woven Advice, making platform switching and bulk migrations quicker and simpler for advisers.
Woven’s innovative technology analyses platform and back-office system data, providing platform transfer analysis in easy-to-use dashboards. Platform switching and bulk migration processes are streamlined, with advisers able to compare platform fees, group clients into eligible cohorts, produce suitability reports, process client communications and open new accounts through Woven’s system.
Woven’s technology is designed to make the platform switching process faster by eliminating many of the inefficient manual processes that have historically impacted large-scale platform switching.
As part of continued investment in its advised propositions following the launch of AJ Bell Touch in the summer and recent appointment of Jeremy Mugridge to lead its advised marketing team, AJ Bell’s partnership with Woven will save advisers crucial time while also ensuring clients get the best value possible.
The first bulk migration to AJ Bell Investcentre using Woven’s software is expected to take place in October.
Mark Rendle, AJ Bell advised product director, says:
“We are really pleased to announce our partnership with Woven that will streamline the platform switching and client onboarding process for advisers. Advisers shouldn’t need to spend a significant amount of time manually inputting individuals’ data when they decide to switch their client base to a new platform. So, by providing access to Woven’s technology, we’re enabling advisers to better focus on getting the best value for their clients with a lot less of the hassle.
“This partnership is further evidence of our commitment to reducing the administrative burden for advisers and helping them to get the best possible value for clients as we continue to invest in our award-winning advised business. We are confident Woven will drive real efficiencies for advisers through the migration process, saving precious time and removing unnecessary friction that can make it harder for advisers to focus on ensuring good customer outcomes.”
Nicky Sevel, Woven Advice CEO, adds:
“Platforms that take Consumer Duty seriously will be measured on how well they enable platform switching, which is why we’re delighted to partner with AJ Bell to help them lead the way. Platform switching has long been one of the most stubborn pain points for advisers and clients alike – half of all transfers fail on the first attempt, most often because of poor-quality data – so at Woven, we’re changing that. By working with advisers to improve data integrity, we ensure that when a decision to switch is made, it’s based on the best information – and that the process itself, whether in bulk or individually, is as smooth and transparent as possible.”
