When two teams go to work: Having the people to help advisers do more

4 min read 8 Sep 22

By having both dedicated platform adoption consultants and business development managers, the support from M&G Wealth Platform is ongoing and ensures you get the very best platform experience, says Ian McGough.

Over the past two years, we’ve been investing in a brand new team at M&G Wealth platform.

Today, I’m excited to lead a team of experienced platform adoption consultants (PACs), each supporting a region across the UK. Many of our consultants have a platform background – a few have actually come from adviser firms themselves. And all are dedicated to helping firms have the best platform experience they can.

Obviously this has been a major investment. So why did we think it was important – given we already give firms dedicated business development managers? Here are a few reasons.

Make onboarding simple

We know that switching platform is a massive commitment for you. We want to delight you from the start by giving you a dedicated point of contact committed to making the whole process absolutely seamless. We’ve designed the onboarding process to be very straightforward – see for yourself - we need just one spreadsheet from you, and we provide a simple onboarding pack to get permissions from the end-client.

The PAC also ensures that everything moves at your preferred pace, with team training and a full timetable for induction. So however many clients you want to move to the platform per week, we can work to your timetable, with all the hard work done by us behind the scenes.

Optimise platform functionality

By having the PAC work closely with your assigned business development manager (BDM), we can combine a deep understanding of the platform with a full understanding of your firm’s own business, strategy and goals. Because we’ve been investing heavily in the platform, there’s lots more functionality coming in and we want to ensure that every firm gets the most out of that.

And we’re not just talking about supporting firms that are new to M&G Wealth. Our PACs are also starting to hold ‘Smart Reviews’ with existing firms to ensure all their people are up to speed with what the platform can do too. Whether that’s in terms of straight-through-processing, more digital journeys or the breadth of product and investment capability, we’re regularly reconnecting with firms to make sure the platform is helping everyone do more, more easily.

This regular engagement also provides a valuable feedback mechanism: the PACs can keep us informed of what they’re hearing from firms. So we can keep developing our proposition in a way that works best for users on the ground.

Doing business your way

Regardless of who your clients are or where they are on their investment journey, we’re committed to offering an appropriate solution that always delivers value for money. Whether your firm wants to do everything yourselves and run your own investment solutions – or you want support such as managed portfolio services or bespoke Discretionary Fund Managers – your PAC and BDM are on hand to help.

The M&G Wealth Platform doesn’t promise to be a one-stop shop for everything, and we’re careful not to overload our proposition with too many bells and whistles. We do want to be known for being stable, reliable and committed to getting things right first time. So our whole support system – from onboarding to business development support to ongoing service and operations – is also about doing the basics really, really well.

Of course, from time to time there are challenges. If things go wrong we hold up our hands and own it and manage it. And with the support structure we now offer, we ensure you are always kept informed of what’s going on and what we’re doing to put things right.

Pave the way for self-serve

The PAC team is on hand to be the main point of contact for whatever you need from your platform experience. But in the next couple of years, we aim to expand the self-serve capabilities of the M&G Wealth Platform so you can do lots more for yourself. This will also include providing more integration with your own processes and systems, so your back office can automatically feed through to the platform.

We’re continually looking for useful and practical ways that advisers can demonstrate greater value for money to their clients. For example, we’ve just gone live with a transactional feed for Iress users that enables them to enhance their client reporting. Looking ahead we’ll be seeing how we can work with firms to launch further data feeds and client portals – everything geared towards making sure you are free to always be your best for your clients.

These are all big plans. But speaking to firms, it’s often the smaller benefits of having a full support team that make the biggest difference. Such as the adviser who loves the fact that he could pick up the phone to confirm instantly with us that an email we sent to his client was genuine and not a scam. Or the advisers that appreciated their M&G Wealth BDM feeding back best practice from other firms during the recent lockdown.    

From big strategic plans to the smallest day-to-day detail, we’re working to ensure M&G Wealth Platform teams are here to help, so doing business with us is easy every time.

Don't just take our word for it - hear from our customers

Building a collaborative, long-term relationship

 

Richmond Wealth has been using the platform for a long time - hear from Senior Partner Chris Bryans about what makes the difference to their firm. 

A co-ordinated onboarding approach

 

Here's Tom Poynton, an Executive Director at Baron & Grant, on what his firm were looking for in a platform, and how they found the onboarding process.

Taking time to understand your business

 

ad+ financial's Matthew Denne shares what it was like working with his Business Development Manager (BDM), as they built up an understanding of his business and supported the firm during challenging times.