The annuity common quotation form – a miracle which needs a little refresh

Mike Smithers, Annuity Product Manager

Sometimes I just have to pinch myself.  When a group of product providers agreed a common form for annuity quotations, it was a huge step forward in processing annuity business.  Only 5 years ago the very thought of a common set of questions on a single form would have been a distant dream, adviser firms would have continued to approach each provider individually for quotes before giving their advice.

The common quotation form is a miracle. A little miracle which is rather verbose but a miracle none the less.

For those people that know me, to start this article so positively is quite unlike me, I am someone who likes to be convinced of the merits of something before I buy into it.  We all know that the common quotation form although a major step forward is not without its issues, maybe you are familiar with the following:

• Being paper based makes it difficult to administer 
• It is long and quite daunting for either advisers or their customers to complete
• You have to fax it to the providers
• The Waiting Game - the first quote comes in within a few hours of you requesting it, the last comes in seven to ten days later (after a quick chase on the phone).  By the time the last one has come in the, first one has almost gone out of its guaranteed quote period and therefore needs to be re-quoted.

At Avelo we think it’s time for another little miracle - something that will cut down the issues and time spent processing enhanced annuity business.  That is what we are working on in conjunction with four major annuity providers – Aviva, Just Retirement, Legal & General and Partnership.

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How RDReady are you?

In less than 12 months RDR finally takes effect – revolutionising how the entire UK FS industry operates. We want to give all our customers as much support as possible in the run-up to 31st December and beyond.  As far as our software is concerned, that means developing the systems you’ll need to operate successfully in the post-RDR, fees-driven world.

A cornerstone of those systems will be a specific Adviser Office update in late summer that will ensure you have everything you need from a fees and regulatory perspective. This is a critical area of the new legislation, so it’s vital that you make sure your systems have been updated with that release.

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93 reasons why Client Portal is now even better at boosting your online business profile

Launched last year as a comprehensive communication portal between advisers and clients; those who already use Client Portal may have noticed a few changes. Thanks to feedback from users, Version 2 is now available with 93 enhancements including:

• Mobile-friendly (i-Phone, Blackberry and Android)
• Underlying Sipp and Wrapper product views
• Enhanced Messaging including:
• Document attachment
• Bulk Adviser messages
• Further integration with Adviser Office
• Adviser Office Bulk Client processes including:
• Bulk Client addition, validation and upload
• Application tracking
• Enhanced Management Information

To take full advantage of this new functionality you’ll need Adviser Office 9.1 which is now available – call to order your copy if we haven’t already sent it to you.

And if you don’t have Client Portal, there’s no better time to see how it can help you significantly improve client service cost-effectively ahead of RDR. Start now and you’ll be ahead of the game by December.

Arrange a free demo by clicking here or call us on 01926 621205.

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Unlock your full technology potential

Whether you’ve been using Adviser Office for a few months or a few years, training for you and your staff delivers the best possible results from your investment in technology. The more proficient your team are, the more quickly requests from clients can be resolved.

We have some great training offers available during February and March 2012

• £150 off any onsite training days booked and taken by 31/03/12
• 20% off February classroom courses
• 10% off March classroom courses

Hurry, limited spaces available, all offered on a first come first served basis.

Call 0845 068 9999 or e-mail business-services@avelo.com quoting ref TC0212

Find out more about our great offers here

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Win an HD camcorder just by using Avelo Exchange

Every client application that you complete through the Exchange Portal saves time, reduces errors and improves the customer experience. And now each one you complete between the 1st and 29th February 2012 gives you a chance to win a superb Sony HD camcorder.

So the more online applications you complete, the more chance you have of winning this superb draw. To get started simply register now. Good luck!

Register now

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