By Jason Spits
Credit Suisse Asset Management(CSAM) has provided its strongest indication as to the nature of its upcoming master trust’s capabilities after striking a deal with IWL to create automated transactions for advisers.
The move will tie IWL’s Visiplan desktop software into the yet to be launched master trust and provide straight through processing (STP) on investments under the platform.
CSAM head of distribution Brian Thomas says the move also involvesInfoComp, which will provide the back-end technology of the unnamed platform.
Thomas says advisers using the platform will be able to complete financial plans through Visiplan and then transfer information to the master trust products run under the Credit Suisse platform.
IWLchief executive Otto Buttula says the deal provides a complete electronic system for planners, with advisers able to record all transactions under the Visiplan system.
“These integrated systems will also reduce advisers’ exposure to risks such as information being transposed incorrectly and multiple system logons,” Buttula says.
He adds that at the push of a button, advisers will be able to securely transfer their client data directly into the platform.
The STP elements of the technology will allow advisers to send client details straight to the master trust.
“This means there will be ‘real time’ allocation of investor numbers and validation of client details so advisers will know immediately if there are errors with applications,” Credit Suisse platform development head Robert Hayward says.
“Electronic messaging using an enhanced set of MFund and Super EC electronic messaging standards will update advisers with the status of transactions as they move through the administration process. There will also be daily data updates automatically available to VisiPlan to keep advisers up to date on their desktop,” Hayward adds.
The platform is scheduled to launch in May.
