Fast growing technology-led DFM Parmenion has announced the launch of its latest innovation for the intermediary community. Vantage is a new data-centric reporting tool that gives adviser firms access to a comprehensive management information (MI) dashboard.
Since the introduction of PROD, many adviser firms have struggled to demonstrate that they meet the obligations of these complicated regulations. This is, in large part, due to the need to examine client data and link governance to outcomes. Many advisers struggle to collate data from legacy systems, wasting time and causing frustration.
Vantage answers this challenge by offering a completely joined-up reporting package, that helps to drive standards and improve customer outcomes. It supports advisers to manage their obligations in a simple, robust way, offering reassurance and confidence that their business is doing the right thing by their customers, and will stand up to scrutiny.
Laura Barnes, Head of Intermediary Distribution, commented on the launch: “We are very proud of our achievement in building the Vantage reporting system. The customer is at the heart of everything we do, and our focus is making business for our partner firms as straightforward and efficient as possible.
“We do this by recognising the unique and individual challenges facing our clients and responding accordingly. Our data capabilities have always been accessible to clients behind the scenes but – with Vantage – the power to cut and use that data is now in their hands!”
With the power of Parmenion’s data warehouse and their expertise in designing efficient user interfaces both centre stage, Vantage turns the visualisation of MI data on its head and scraps hard-to-read tables. All data is presented in clear charts and graphs that can be easily clipped to create reports and presentations. Further advances in functionality will follow.
The simple-to-read dashboard is held behind a secure login that only nominated individuals within adviser firms have access to, and provides insights into:
- The trend of the business a firm has been writing, with a breakdown of total assets under management (AUM)
- Client base analysis by average age; the amounts they are investing; the risk grades they select and the investment solutions and tax wrappers they favour
- Trends within the firm’s overall performance to identify risks and opportunities and so to propel future growth
The Vantage dashboard allows advisers to look at both firm level data but also to drill down into the trends and patterns among individual advisers within the firm.
All Parmenion platform users are being offered a demonstration of the system this month and will be able to access Vantage at no additional charge via their secure site, to achieve security over valuable firm level Management Information.