‘JustFA’ platform aims to deliver efficiencies across the advice process, and meet the challenges of remote working
Seccl, the Octopus-owned custodian and platform technology provider, has partnered with Loyal North PLC as it moves to operate its new adviser platform.
The ‘JustFA’ platform has been developed by a subsidiary of Loyal North PLC, the parent company for local UK IFA firms, to deliver a more efficient service approach to UK financial advisers and their clients.
It has been designed to streamline the advice process, by combining in one place an adviser back-office system with investment platform functionality and remote client-servicing capabilities.
As a result, every single step of the advice journey, from on-boarding through to fact-find, recommendation and implementation, can be carried out from within a single system – helping to create a more efficient, straightforward and affordable solution for clients.
JustFA’s custody and execution services, as well as its range of tax wrappers, are made possible by Seccl, while its back office and client portals have been custom-built by JustFA’s technology team – with all modules integrated via API.
“We were very fortunate to find a partner with similar views on the future of the advisory market in the UK”, commented Alexandra Ilinskaia, CEO of JustFA. “We both believe that delivering affordable technology solutions to advisers can carry enormous benefit to a wide range of retail clients.”
The platform’s investment proposition, meanwhile, has been developed in partnership with Fusion Asset Management, an experienced asset manager offering risk-graded investment portfolios across a number of retail platforms in the UK.
Fusion’s investment approach places a strong emphasis on protecting client assets, and its portfolios weathered the 2020 market crisis extremely well with all portfolios gaining from 8% to 12% in 2020, compared to 2-3% industry average.
“We believe that our partnership with Fusion greatly enhances the JustFA proposition, by giving advisers and their clients easy access to high-quality investment portfolios”, Alexandra added.
Finally, reacting to the growing need to support clients remotely in light of the Covid-19 pandemic, JustFA offers video calls and co-browsing from within the platform itself – helping advisers to retain the personal touch even without meeting their clients in person, in a fully compliant fashion.
Alexandra Ilinskaia, CEO of JustFA, continues:
“The initial feedback from advisers within the Loyal North group has been extremely positive, and our next step is to offer the JustFA platform to other advice firms. We think it offers a really attractive set of options for IFAs who are looking to become more efficient, broaden their client base, or simply provide their clients with a quality service at lower fees.”
Sam Handfield-Jones, co-head of Seccl, added:
“We’re delighted to have supported Loyal North on their journey to operating their own platform. The Covid-19 pandemic has shown once and for all just how important system integration is to the delivery of advice – and we’re sure that many others will look to follow suit by developing a fully digital advice platform of their own.
“In fact, as more firms look to make their first moves into consolidation – or seek to pursue a regional network model – the role that technology can play is gaining even greater significance; and we’re seeing growing appetite from firms looking to capitalise on the efficiency, customer experience benefits and revenue potential that operating a platform can bring.”
Platform and portfolio management fees are each set at 0.25% of the clients’ assets. In addition, the on-going advisory services are priced at 0.5% per annum. “By combining new technology with traditional culture of financial advice and investment management, we are delivering a quality full-advised proposition to clients at a 1% total fee”, added Alexandra.
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For journalists in their professional capacity only. Issued by Seccl Technology Limited. Registered in England and Wales at 20 Manvers Street, Bath, BA1 1JW (Number: 10237930). Issued: March 2021.