P1 Investment Services, the owner of the P1 Platform, has launched a client onboarding and servicing portal for advisers.

Wealth Pilot was created to tackle the problem of data sitting across multiple adviser systems.

P1 claims it will streamline back-office duties and reduce integration difficulties between adviser tools.

It will sit within advice firms’ own Microsoft environment with data being captured and stored within an adviser’s own systems. P1 said this will allow advisers to leverage some core Microsoft functionality including its AI tool Copilot.

Wealth Pilot will allow automated functions to be set up across Microsoft tools such as Outlook email notifications to clients, document sharing with clients directly from a client file in SharePoint, and transcribed meetings through Teams creating meeting notes and actions.

Clients will also be sent automatic email notifications to remind them to update information such as documentation to approve as well as annual reviews to read.

Modules within Wealth Pilot will include:

• Fact find, objectives, duty of care (vulnerability), and ID upload;
• Risk Profile Questionnaire, to include an Investor Risk profile and a specific Objectives-based risk profile;
• Service Level and Suitability Report acceptance; and
• Cashflow Modelling, Suitability Report Writer and Annual Review Generator (including drawdown reviews).

The portal is a two-way system as clients will have access to the P1 Wealth Pilot through a web-based application called Wealth Portal.

James Priday, CEO of P1 Investment Services, said: "We wanted to deliver something truly unique to the advice industry with Wealth Pilot, for the first time putting advisers in control of their data.

“Nearly all advisers use Microsoft, therefore creating and deploying applications on Microsoft’s Power Platform into an advice firms own Microsoft environment makes so much sense to us. It means the data sits with them, and they can start doing amazing things with tools such as Copilot and Power Automate.”

Wealth Pilot claims to be platform and discretionary fund manager agnostic. Whilst it will initially be offered to P1 Platform users, the firm said it will soon be available to license as a standalone piece of technology.

P1 has experienced significant growth across its platform and investment management services in recent times with several investment managers operating their businesses under P1’s umbrella, including Elston Portfolio Management, Corrival Capital Management, Pangea Impact Investments and Five Horizons.

In December Harry Sevier, former investment director at fund manager Ruffer, teamed up with P1 to launch a boutique investment management firm based in London.

Last March former Tees Wealth head of investment management Kieran Follis teamed up with P1 to launch boutique DFM investment management firm Magellan Research & Investment.

In 2023 former Brooks Macdonald investment director Daniel Minett teamed up with P1 to launch his own DFM-based wealth management firm.