Earlier this year we completed the successful migration of the first phase of advisers and their clients to our new technology platform. Since this time, we’ve continued testing, reviewing and improving our new technology to make sure your transition to the new technology platform is as smooth as possible.
Getting you set up for success
Our preparation for your migration is well underway. We have already introduced over 5,500 advisers to our pre-migration checklist, which can help to ensure your business is set up in the best way for migration. Advisers who were in the first phase of migration said it proved incredibly useful and they reaped the benefits during migration by completing the actions early on. It includes the following recommendations:
- Review the names of model portfolios, because after migration the names of portfolios will appear on client valuations, statements and other documentation.
- Ensure your clients are aligned to the correct adviser – this will ensure the clients you are expecting to see are visible to you in the new technology platform.
Ensuring we’re all on the same page
An important part of the move is making sure our processes and systems are aligned with those used in your offices. As part of our technology platform upgrade, we have worked with back office software providers to enhance the integrations we offer and to minimise any disruption for you. Where possible, we have ensured that all updates will happen automatically but in some cases you may need to carry out some additional steps. As we move closer to migration you will be able to find out more about your specific provider here to see which services will be offered and to find out if you need to take any action.
Your clients will also be given new account numbers, which will be confirmed in their first statements from the new system.
We’ve also taken steps to ensure the way your business is set up on our current system mirrors the setup on the new technology platform. This involves making sure all your permissions are set up correctly and the right people in your firm have access to the right clients. This also presents the opportunity to tidy up your own users and data, which will make the transition more manageable. We’ll be in touch if this affects you.
Enhanced security and getting your clients’ details up to date
We understand how important data security is to your clients. As you will be aware, we have already applied new security measures to our online Customer Centre, including an upgrade similar to the security methods used by most banks.
You may also remember some of the tasks we have already taken to cleanse client data well ahead of migration, helping to ensure a smoother migration of your clients’ details. This work included gathering additional information for trustees and consolidating customer references and multiple ISAs wherever possible.
All these steps have been taken to best prepare you and your clients for the move to the new technology. If you would like any further information on the subjects covered in this article, please speak to your Old Mutual Wealth platform specialist.