Financial consultancy Lang Cat has updated the functionality on its Analyser adviser platform-switching tool.
Analyser is a fully independent platform and MPS comparison solution developed to provide advice firms with robust and repeatable due diligence and client reporting.
It helps ensure firms make the best decisions for customers and comply with the demands of the regulator.
Reports can be created at firm level for specific clients, groups or client families.
The update, unveiled today (3 February), will support advisers with the justification needed when recommending clients switch between platforms and then evidencing it.
It comes with templated justifications for why a certain platform is being recommended over an existing provider.
Advisers are then free to use these, adapt or override as needed.
Analyser has also introduced a ‘Provider Introduction’ feature, enabling advisers to refer themselves to providers that they would like to speak to, based on their research or shortlisting.
The data and contact are strictly between the adviser and provider, which means there is no data trading or cost involved for either party.
The Lang Cat said the upgrades follow the integration of Avenir, which is designed to support financial-advice firms with more efficient reporting.
The partnership combines Avenir’s platform with Analyser’s insights and analytics to automate data and streamline reporting, saving time and improving accuracy.
The Lang Cat digital director, Terry Huddart, said: “The sector continues to defy expectations with high inflows, with money moving around platforms a major factor.
“There’s a dearth of support for advisers working in this environment, which can be challenging, especially when the decision to move a client between platforms is more nuanced and not solely based on cost.
“Our new solution is designed to integrate with ongoing strategic panel selection and support advisers with a compliant, fully audited and time-saving methodology.”
