Avelo’s New Adviser Office Release Sets Benchmark for Adviser Charging Ahead of RDR

24 September 2012

Leading financial services technology solutions provider Avelo has incorporated key RDR-focussed features, including the most comprehensive charging model for fees based advisers, into the latest version of its market leading Adviser Office (AO) software currently being rolled out nationwide.

The significant upgrade follows extensive research among a focus group of IFA users to ensure that AO Release 10.1 meets the changing needs of advisers operating in a fees based environment. RDR specific changes to the product include:

  • Enhanced RMAR data collection & additional reporting (new sections K&L)
  • Significant upgrade to fees recording and invoicing
  • Additional functionality to enable on-going charges to be administered effectively

Paul Yates, Product and Strategy Director, Avelo commented: “Financial advice as we know it will be very different from 31st December. Advisers will be making significant changes to the way they work and need all the support they can get. Adviser charging is a particularly contentious issue for many as they try to coordinate new and renewal business as well as juggling businesses that operate on a commission basis.

“This is why we took the time to consult extensively with our advisers to design an adviser charging module that really takes the hassle out of doing business in a fee based environment – the end result is a real game changer for our clients and a significant differentiator for us. We will continue to provide the highest levels of support to our customers post RDR and beyond, ensuring we offer the products they need within the time frame that works for them.”

The AO upgrade forms part of Avelo’s comprehensive support to clients to ensure they are RDR-ready with the right technology installed and aligned with their internal business processes well in advance of Dec 31st deadline. This delivery comes on top of Avelo’s RDR initiative earlier this year with the launch of the Ready4RDR online resource, providing a one-stop-shop for insight, opinion and practical help from Avelo business and technology experts, plus the thoughts of leading industry commentators and other useful resources.

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