PRINCIPALITY BUILDING SOCIETY SELECTS MARKET-LEADING FINANCIAL PLANNING SOFTWARE TOOL FROM DISTRIBUTION TECHNOLOGY

Wales’s largest mutual building society, Principality Building Society implements Dynamic Planner for enhanced and easy-to-use financial planning and improved client servicing for its multi-tie advisers

London, UK, 04 October 2005 – Distribution Technology, a leading provider of financial and investment planning technology today announced that Principality Building Society has selected its proven, cutting-edge financial planning tool Dynamic Planner®, as part of the Society’s initiative to build and strengthen its financial advisors’ advice capabilities at point-of-sale. Dynamic Planner’s modular and highly-configurable technology was successfully customised to support Principality’s Financial Planning Managers (FPMs) in providing holistic investment and protection advice to customers. This highly flexible financial planning solution was easily integrated into Principality’s selected back office system and went live throughout its Wales and Borders operations in July 2005.

Principality Building Society is Wales’s largest building society and the UK’s twelfth-largest building society, with more than 420,000 members, and utilises a network of 51 branches located across Wales and its Borders.

Principality’s new financial planning solution, Dynamic Planner, will be made available to more than 40 FPMs, providing an easy-to-use, holistic view of each client’s portfolio and dramatically speeding up the advice process offered. Under the initial implementation, Principality’s community of FPM’s will be able to carry out a customer needs analysis, product selection and client report creation across a range of investments, protection and retirement products. Dynamic Planner’s asset allocation, stochastic forecasting and portfolio construction modules have also been deployed to enable advisers to construct long-term investment plans for their customers.

Ben Goss, managing director, Distribution Technology, comments: "After a rapid two month implementation, the solution is now successfully up and running, ready to deliver immediate business benefits to Principality, its Financial Planning Managers (FPMs) and their customers. The Dynamic Planner platform will enable Principality to provide its FPM community with easy-to-use and functionally-rich financial and investment planning tools. This implementation emphasises our credentials as the leading provider of financial planning tools in the UK and highlights the strength that Dynamic Planner has in a point-of-sale environment."

Neal Pritchard, head of financial services, Principality Building Society, comments: "Our philosophy is firmly rooted in the principles of mutuality and we pride ourselves on delivering the best possible service and advice to our customers. We firmly believe that our role is not only to provide a secure place for our customers' money, but to also help them make informed choices.

"Building long-term relationships between our community of financial planning managers and our investors is very important to us – whether it's saving, investing or borrowing – we strive to make the most of their money. Therefore it is imperative that we invest correctly in the best technologies available. Our ability to support our FPMs through the provision of Dynamic Planner’s financial planning tool was a key driver behind this project. Following a comprehensive and rigorous selection process, we chose Dynamic Planner, as it enables us to provide our members with easy-to-use, holistic and knowledgeable financial planning advice, cost effectively, with speed and flexibility."

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development