Parmenion has unveiled a new online simplified advice service for advisors.
Known as Interact, the new service will allow advisors to make face-to-face advice more cost effective, by cutting the average nine hour advice process to a 45 minute meeting.
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The in-house developed service will require clients to go through a four-stage risk assessment which then feeds into Parmenion’s discretionary fund management service.
The service is being trialed with a group of advisers and is expected launched more widely in Autumn.
Additionally, the service will enable firms to rediscover their mass market client bank on line.
Richard Mein founder and CEO Parmenion said: "Unlike execution only offerings, Interact has been designed to work within and alongside the business models of Advisers. The service takes platform technology out of the Adviser’s back-office and places it firmly at the cutting-edge of the advice process."
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By GlobalDataSteve Trott, proposition director, said: "Parmenion have embedded this analysis into Interact. During consumer testing, users realized that the system was seeking to protect them and their feedback has been outstanding."
