In the ever-changing world of platforms, it’s not unusual for a new platform to be selected as the preferred choice for clients, either following a PDD or CIP review or following a merger. However, the complexity and challenges of switching to that platform can mean the process takes far too much time and human resource – and so in steps Verve!
Many advisers worry that there are compliance issues with undertaking a platform or asset migration. However, it’s key to realise that there are actually compliance issues with not doing a migration if you have identified a more suitable option for your client.
We help you to understand the options and the most compliant outcome to the platform review, as well as segment your clients to approach it in the most efficient way. We are experts in this area, having contributed to this whitepaper by SS&C on the topic.
Our process is as follows...
We begin with a review of your clients, including existing strategy (platform and funds) as well as the identified new strategy. We will assess and segment the client bank based on the above and also review your advice processes to ensure they are robust enough to support the project.
We will then provide a full project plan, guiding you on the best approach to migration, including:
Advice on enhancing your firm proposition where needed, to ensure a solid advice process.
Structure around the various categories for your clients and plans, creating a tailored plan for each.
Detailed project plan to undertake the migration step by step.
Personalised client review pack to get the full project underway.
Following the previous steps, if you have sufficient capacity in house to implement the plan, then away you go! If, however, you would like resource from us on an admin / research / paraplanning or compliance angle to ensure the plan is implemented in a timely manner, we can also add this on.
We know asset migrations are big projects and open a can of worms of questions, but we are here to help. Click below to book in a chat, explain your goals and we’ll work together to help you achieve them!
