Introducing our new client portal
It’s been a busy week at Informed Choice, as we updated our technology systems.
One of my goals on being appointed as Managing Director is to modernise our systems and make the business more efficient.
We’ve grown a great deal in the past couple of years, and with that growth comes a need to revisit how things are done, to make sure they are approached most sensibly.
One area of the business that had room for improvement was the volume of paper with which we deal daily.
We already use several technology systems at Informed Choice and have for the past 15 years scanned client files once tasks were completed, but many of our systems rely extensively on the use of paper.
So, this week, we’ve started using a new tool called Virtual Cabinet.
Virtual Cabinet is designed to dramatically reduce the volume of paper we use in the business, instead working with electronic documents on screens.
Here’s an example.
When we produce annual review reports for our clients, we print these reports, bind them, post and issue them to each client. In a typical month, we do this 40 or 50 times.
Following a review meeting with each client, we print and post a letter containing a summary of our conversation, along with our recommendations. Accompanying that letter is a portfolio rebalancing form (or forms!), and reply paid envelope. When the signed instructions are returned, we action the portfolio rebalancing as agreed.
This process takes time (especially if Royal Mail are on strike!), and isn’t particularly good for the environment; think of all of those trees!
One of the motivations for implementing Virtual Cabinet within the business was to create the Informed Choice Client Cloud Portal.
This secure, encrypted online portal means we no longer need to print and post reports, letters or fund switching forms.
Instead, we can ‘print’ each document to PDF on the screen before adding them to your portal.
Each time we add a document to your portal account, you receive an email notification with a secure link.
One of my favourite features of the Informed Choice Client Cloud Portal is the ability to sign forms with e-signatures digitally. So instead of it taking a day or two for the post to arrive, and then a day or two for the signed form to come back into Sundial House, we can instantly send, receive and digitally sign paperwork.
We’re switching on the Informed Choice Client Cloud Portal for our clients over the coming days and weeks, so look out for your first secure link in your email soon.
There’s a dedicated page at icfp.co.uk/portal with some helpful video guides to activating portal for the first time, authenticating a different device, viewing and signing documents, and resetting a forgotten password.
You can also watch a short video with Martin explaining why we’ve created the Informed Choice Client Cloud Portal and describing some of the key features.
I hope you will enjoy using this new system.