Investment platform services provider Parmenion has today launched Interact which it says is the UK's first, fully integrated online simplified advice service.
The Interact software allows advisers to make face-to-face advice more cost effective and Parmenion, an IFP Corporate Member, says that an average nine hour advice process can be transformed into a 45 minute meeting.
The service was was unveiled at Platforum's technology showcase event, Top Gear 3. Interact, developed in-house over the last two years, is the 'evolution' of Parmenion's platform software and the company says it delivers an "intuitive, compliant and user friendly experience."
Parmenion founder and chief executive Richard Mein said: "Unlike execution-only offerings, Interact has been designed to work within and alongside the business models of advisers. The service takes platform technology out of the adviser's back-office and places it firmly at the cutting-edge of the advice process."
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Steve Trott, proposition director, said: "The key to a successful advice process and good investment outcomes for clients, is to accurately establish the correct level of portfolio risk. More than just attitude to risk, calculating loss capacity is crucial, yet it is seldom successfully achieved online. Parmenion have embedded this analysis into Interact. During consumer testing, users realised that the system was seeking to protect them and their feedback has been outstanding."
Interact is being trialled through a select group of advisory firms with a view to full launch in the autumn.