Headlines this month
Welcome to our first Progress Report, designed to keep you updated on the service enhancements we’ve been working on.
Covering everything from platform developments to updates to our investment offering, this is your one stop shop to find out what we’ve delivered to make your and your clients’ lives easier.
We’ll also give you a sneak peek of what’s coming up and when you can expect to see them. Some of these things might change, be pushed back or get reprioritised depending on how complex they are, feedback from advisers, or if we need to pivot to new laws or regulations. But we’ll keep you posted here when this happens.
Without further ado, here’s March’s update, covering everything since the start of the year.
Updates to New Money Pending screen
You see what we see. We’ve made some big updates to the New Money Pending screen, making it easier to see the progress of your clients’ transfers.
With clearer, more consistent updates, you can see where the money is and when it was last chased. For in specie transfers you’ll also see a breakdown of individual fund progress, including conversions.
Enhanced CGT reporting
New realised gains report
Throughout the year we’ll be focusing on enhancing our CGT reporting.
To start, we’ve updated the realised gains report with an option to include all GIA portfolios. Simply log in and find a client, then head to Reports, click on the Everything tab, then select realised gains.
Bulk realised gains reports
We can also generate Bulk realised gains reports for all your clients, at adviser and/or firm level, in a .csv format.
To request a bulk realised gains report, please get in touch with clientservices@parmenion.co.uk.
We’re looking to make these available directly from the platform after Tax Year end.
What's happened?
Better data
- The New Money Pending screen has been enhanced, so you can now see where the money is and when it was last chased. For in specie transfers you’ll also see a breakdown of individual fund progress, including conversions. You can also input a book cost yourself if we haven't received one from the other provider. More on this in the feature highlight above.
- We’ve added new integrations for several new financial planning, back office and suitability and compliance systems. For the latest integrations head over to our Integrations page
- We’ve updated your client’s Investment Report Packs to make them clearer. They’re now more streamlined with less repetition and unnecessary sections. Performance and asset allocation information has been improved (no more single colour donut charts!) and the Investment Summary section has been redesigned.
Digital first
- Our mobile app is getting better and better. Since the start of the year, we’ve added performance information, the ability to update SIPP expression of wish - all this on top of stronger account security with MFA, and more. Find out more about the updates to our brilliant app here.
- We’re reducing our reliance on paper. In February, we moved online clients to digital reporting. Most of our letters are also now digital for online customers (though we’ll still need to send some in the post for fraud prevention reasons).
Financial Planning
- We’ve improved the realised gains report with an option to include all GIA portfolios. More in the feature highlight above.
- We can also generate bulk realised gains reports for all your clients in a CSV format, upon request. More on this in the feature highlight too.
What's next?
- More CGT reporting enhancements – including a consolidated unrealised gains report for clients with multiple GIAs. Plus you’ll be able to self-serve bulk realised and unrealised gains reports (Coming Q2).
What's happened?
Investment reporting and content
- We’ve introducing a suite of new investment material to support you and your conversations with clients. You can find all of these on our reports and documents section of the website or by logging into the platform:
- Quarterly Solution Reports – a quarterly update on what’s been going on in markets, the solutions’ performance and risk and much more
- Quarterly Macro Outlook – a quarterly update on where we are in the economic cycle, opportunities and threats, our tactical positioning and what’s worked and what hasn’t.
- New solution guides – to give you more information on the inner workings of our solutions.
- We’ve also launched a new weekly market update and fortnightly ESG insights, to keep you up to speed on the latest market trends.
Investment Choice
- Four new DFM partners are now available on our platform, including Pacific Asset Management and Hymans Robertson Investment Management. A full list of available DFMs can be found here.
What's next?
- ETFs on platform – we’re looking to make ETFs available on platform for our DFM partners (Coming July).
- More Solution Guides for our Ethical Active suite (Coming April).
- Enhancements to Quarterly Solution Reports including exposure and engagement data for Ethical Active, Active/Passive Splits for Conviction and Asset Allocation information (Coming April).
What's happened?
- We’re working hard on getting the platform and documents ready for the new changes to the Lifetime Allowance (LTA).
What's next?
- LTA changes will go live (Coming 8th April)
- We’re making changes to our ISA to bring it in line with some of the new rules. Soon you’ll be able to pay into multiple ISAs of the same type in each tax year (Coming April).