AJ Bell Investcentre has launched a new pension commencement lump sum (PCLS) tracker, which it claims will streamline the PCLS process and save time for advisers.
The firm reckons the tracker could save around 100 working days of adviser telephone calls over the course of a typical year, based on historic PCLS call records.
The tracker is available through the firm’s main client dashboard online. It shows the status of PCLS payments and any subsequent income requests, allowing Financial Planners and advisers to track progress and keep clients informed without the need to spend time on the phone chasing updates.
AJ Bell said Financial Planners and advisers will be able to see how many working days have elapsed since they submitted the PCLS request alongside our standard timeframe to make the payment.
AJ Bell Investcentre said it has launched a number of other enhancements in the past 12 months which can help save time for Financial Planners and advisers, including its online Bed and ISA tool and partnerships with Woven Advice and Mabel Insights.
Other additions include a new platform switching and bulk migrations service in partnership with Woven Advice.
Mark Rendle, AJ Bell advised product director, said: ““In a tax environment that has been embroiled in political speculation over the past few years, leading to uncertainty among clients and advisers spending more time than ever supporting them through it, the need for efficient, time-saving solutions has never been greater.
“This development affirms AJ Bell’s commitment to ensuring advisers have the tools they need to deliver the best outcomes for clients by saving them valuable time that they can deploy elsewhere.”
He said the firm plans further enhancements to serve advisers and clients.