VitalityInvest has launched a new transfer service for advisers enabling them to consolidate clients' investments on its platform.

The VitalityInvest Smart Transfer Service aims to reduce the amount of time and effort spent transferring investments between providers.

The new service provides advisers with a number of services including: 

• A relationship manager to provide ongoing support  
• Pre-transfer checks, including automatically detecting of Origo-linked transfers  
• Transfer checking and regular liaison with the ceding scheme to help advisers transfer assets in a "time-efficient manner"

Vitality will also be improving its existing interactive statement functionality from next month to make it easier for advisers to provide a clearer, more personalised review service to clients. This provides a co-branded report, providing detailed information on clients portfolios, charges or transaction history.  

Justin Taurog, managing director, VitalityInvest, said: “Over the last few years, we have seen increased demand and need for consolidation, which we realise can be a real pain point for both advisers and clients.  

“This is why we want to take a leading role in transforming processes to ensure they are fit for the future. By enhancing our proposition, we hope to provide a solution to a previously difficult process, making transfers simple and effortless. Introducing new features to our Interactive Statements will also help advisers provide a more tailored review report.” 

The initiatives are in addition to a limited-time offer launched last month which provides annual product charges of 0.15% or less when clients invest in Vitality funds, with a charge cap on amounts above £200,000.  

Vitality is part of Discovery Limited, a worldwide insurer and investment manager with more than 20m members in 29 markets worldwide including Europe, the United States and China.