Suffolk Life has changed its website to enable advisers to view their clients’ drawdown information and bank transactions online.
The provider has launched two new features on its web portal to help advisers’ better service their clients.
The first enhancement is for advisers with clients whose plans contain crystallised funds while the second allows advisers to view their client’s bank transactions online.
Jessica List, pension technical manager at Suffolk Life, these new features “will help advisers by providing the information they need in once place, at a time convenient to them so they can give clients the best service and advice possible.”
She said: “In an industry that is constantly changing we are always reviewing ways in which we can utilise technology to the benefit of our advisers and their clients.”
The portal will show the split between crystallised and uncrystallised funds within the plan, and, where applicable, the split between capped and flexi-access funds.
Advisers will be able to see the current income limit and the next review date, which is particularly important with the changes in July of this year to the Government Actuary's Department rate tables.
With the recent confirmation of the reduction in the money purchase annual allowance (MPAA) applying retrospectively, the portal will also allow advisers to see if their clients have triggered the MPAA, when it was triggered and the reason why.
In February, Suffolk Life has warned changes to MPAA would have a disproportionate effect on advisers’ most vulnerable clients.
The online portal will show the last 50 transactions in the client’s main account, up to the end of the previous working day.
It will also show the date and description of each transaction, the amount credited or debited and the new balance.
James Wood, senior financial planning adviser at HFB Financial Planning, said these changes showed Suffolk Life has been listening to advisers continued feedback.
“The good news is they are implementing the requested changes now that Curtis Banks is on board,” he said.
“Anything which improves the adviser-client interactive experience is welcomed by me and this certainly falls into that category,” he concluded.
Suffolk Life is not the only one provider improving its online services. Yesterday (17 August) Phoenix Life launched MyPhoenix, an online portal that allows eligible customers with a pension pot of £10,000 or under to cash-in their pensions online.
maria.espadinha@ft.com
