New Business & Dealing Instructions to Admin

Dealing and new business (mainly online) is an area we are looking at internally at the moment and I would be really interested to know how other firms get on in this area if you are willing to share :-) 

At the moment we have a form that is produced by the Paraplanner to provide instructions to the admin team to assist them with the new business processing and any subsequent dealing online where fund purchases are required on platform.  This is also used by compliance for file and deal checking. 

Our Paraplanners understandably don't like the form as it involves re-keying (or copy and pasting) quite a bit of information from different areas, there is also the risk that information on this form is input incorrectly.  However, the admin team really like the form as it provides them with very clear and simple instructions without having to refer to the entire report (or different sections of the report). 

I am looking at a variety of different solutions such as trying to build automation using Intelligent Office, using a spreadsheet to build some whizzy visual basic forms, there is also the suggestion that we include everything required in the recommendation section of the report but some feel this might make it too heavy going for the client. 

We can't be the only firm having issues in the area (or maybe we are)? 

Thanks

Alex

Comments

  • Could you not make use of the illustration which, depending on provider/investment product, will include all the funds and codes and amounts involved?
  • We used to do an action list / new business form, but I agree it can be tedious! Rather than asking admin to read the whole report, we're now doing a clear summary of recommendations at the beginning. This not only helps the clients understand the important stuff, but seems to be sufficient 9 times out of 10 as far as implementation goes too.
  • We used to do an action list / new business form, but I agree it can be tedious! Rather than asking admin to read the whole report, we're now doing a clear summary of recommendations at the beginning. This not only helps the clients understand the important stuff, but seems to be sufficient 9 times out of 10 as far as implementation goes too.
    This is pretty much what we do.
  • :) Thank you for your suggestions
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