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Posted on
23rd March 2011
Posted By
Katie Brigden
Tags
RDR, Brokers, Fees
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Brokers must be prepared for greater competition Post-RDR
RDR creates opportunities and significant threats
Durell, the UK's leading universal adviser technology platform provider for financial, mortgage and insurance advisers warns that the implementation of the Retail Distribution Review at the end 2012 could be the single largest threat for personal lines business since the growth of aggregators at the beginning of the century.
Durell has already seen a significant increase in general financial and mortgage brokers looking to offer personal lines and protection business which is a trend that will increase significantly when advisers are required to work on a fee only basis.
The RDR will create two types of adviser warns Durell, the specialist for whom the fee based structure will be an easy transition to adopt and the more generalist, for whom charging fees will necessitate broadening their financial offering, and personal lines will be an easy option as the core data necessary for the provision of a policy will already be collected in the fact find. Durell designed its platform to accommodate the more generalist financial planning proposition focusing on holistic advice simple and inexpensive technology.
Robert White, CEO, Durell Software, comments,
"My advice for any broker that has a large personal lines book is to look at the RDR as a potential opportunity and potentially broaden the offering into the core financial products that consumers will need. Our data shows that most consumers' requirements are straightforward and those that do not fit the norm can be transferred to a specialist, what's important is retaining your existing clients."
This article has been featured on the following websites:
Best Advice
Financial Times
Posted on
14th April 2008
Posted By
Katie Brigden
Tags
General, Factfind, Custom
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New customisable fact find offers complete flexiblity
Durell Software today announced the launch of their new fact find system, available free of charge to all
supported users as part of their “Financial Adviser” and “Mortgage Manager” systems.
• Entire layout is customisable (i.e. questions, sequence, totals and style)
• Re-defined layouts are immediately printable
• Fact finds may include coloured logos and pictures
• Durell also offers a layout design service for busy IFAs and networks
Optional extras include:
• Can be displayed both on local system and via the IFA’s website
• Allows clients to enter or amend details directly via the website
• Green initiative to reduce fact finding trips (and increase sales days)
• A secure server and web space are provided within this cost
A ready-made set-up is provided, however the IFA can customise the layout by editing the questions, their
order, the headings, totals, fonts, and other stylistic aspects. A preview facility enables the IFA to check the
appearance of a new layout. All such new layouts can be printed immediately using exactly the same fonts
and colours. The fact-find can be designed to match the existing house style of the IFA’s website, ensuring
consistency
Tim Ames, Director of Cathedral Financial Management in Exeter comments:
"We have been users of the Durell system for 15 Years. Their progressive and forwarding thinking
approach is clearly demonstrated by this new key feature to the software. Most IFAs do not want
their hands tied by a third party when establishing their business model. Durell gives us the flexibility
to succeed in the post RDR environment".
This article has been featured on the following websites:
Best Advice
Financial Times