Together with a client management and document management system, Adviser Evolution forms the core component of Wesleyan’s new technology solution - enabling 220+ financial consultants to have remote access to a comprehensive straight-through-processing system.
Using tablet PCs, consultants can now complete full financial reviews, including needs analysis, quotes and electronic applications. Allocation of investments and assets to specific financial objectives enables advisers to address clients’ long term wealth management objectives, including school and further education fees planning and retirement.
Wesleyan is a major UK-based insurance group which specialises in providing tailored financial advice to medical, dental, legal and teaching professions.
Steve Deutsch, operations director at Wesleyan, comments:
“During the three month pilot of Adviser Evolution, our consultants have already seen increased business levels and a significant improvement in speed and cost-efficiency. Feedback from the early user groups inspired many other consultants to ask for the service and we are delighted that we can now go live with the full roll out. This means that all client data and new business applications can now be submitted electronically and therefore instantly, for processing at head office – giving us a much more streamlined process and importantly a solid audit trail to support all the regulatory obligations.”
Adviser Evolution was one of the first financial services applications in the UK to be developed using Microsoft’s .NET technology platform. 1st have adapted this technology using market leading expertise, to ensure that regardless of the location of the consultant, remote access and data synchronisation is available, including full support for tablet pen technology using tablet PCs.
The interactive application forms within the Insight solution were developed using XForms. In partnership with user interface specialists, webBackplane, the XForms build upon Origo financial services standards, to enable fast and cost effective development and integration. The resulting forms cover products across all the main life, pensions and investment sectors and supporting online validation.
Paul Yates, strategy and business management director of 1st - The Exchange, comments:
“We are really pleased that Wesleyan has become our first client to go live with Adviser Evolution. With any new technology, feedback from users over the course of pilot testing is essential to perfect a complete solution which is ideally tailored to the core business process. The reaction of users has been a great testament to the combined efforts of the 1st and Wesleyan teams’ commitment to drive for the ultimate solution and we are very excited by the impressive results which are being seen, even at this early stage.”
Adviser Evolution provides simple navigation and a familiar format, based on Microsoft Outlook and other Microsoft Office applications, developed by 1st, ensuring ease of use and minimal additional training. A customisable desktop and activity dashboard allows users to tailor the product to their own requirements, viewing data in a clear and simple manner, ideal for compliance purposes.
Strong data management and automatic synchronisation between the tablet or laptop PC and the office database aims to maximise data accuracy and reduce the need for data re-keying. All data, quotes, applications, suitability letter and other documents are linked to the client’s review case on a remote tablet or laptop PC and are automatically synchronised with the central database. Within the Wesleyan implementation, all application, quotes and documents attached to a client’s case are also messaged to their document management systems, enabling quick and efficient case review and issuing of new business.
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