IFAs

The financial service landscape is experiencing major changes since the Financial Services Authority launched a distribution review (RDR). In today’s challenging business climate, your clients are more demanding, expecting more done for less, and done more quickly. What’s more, an increasing number of regulatory demands and compliances also must be met, but without being a burden on your fee-earning time.

Fee-based Billing and Time Management

Many financial services are moving from commission-based to fee-based model. If you’re one of them, it’s essential you accurately record all the time spent on your clients’ business. Virtual Practices offers a flexible, easy to use integrated time recording tool that is highly intuitive and very simple to use, allowing you to:

  • record in real time using an on-screen clock 
  • record in minutes or units with time posting slips
  • automatically capture and record time when you produce/send emails, letters and documents to your clients
  • automatically record time against incoming client emails 
  • integrate with smart phones and Blackberrys to record time even when you’re on the move

Client Record Management

IFAs are dealing with enormous amounts of paper work in the form of client files, fact findings, copy letters and quotes, which when conventionally stored in paper format, leave them vulnerable to loss or damage whilst taking up valuable office space. Document searches and updates can be time consuming and frustrating, which directly affects the quality of service to clients. Virtual Practices provides more than just electronic document storage. We allow our users to tailor the steps involved in producing documents to build in features such as automatic time recording, document filing, and version control.

 

A Brighter Outlook™

With extensive usage of email communication nowadays, we’ve designed the software so it can be operated entirely from within your Microsoft Outlook™ system, which means documents and reports production, time recording, client billing can all be accomplished without ever leaving the Outlook™ environment.


Imagine all the essential tools needed to run an efficient and profitable practice for a simple, low cost fixed monthly fee.  With Virtual Practices, there’s no capital investment, installation or software licences. Being a fully-hosted system, neither will you need to worry about taking back-ups of your work or data - that's all done for you at a secure data centre, providing your business with a level of continuity and security that you could never expect to achieve running a system in-house. All you need is an internet connection, and you’ll benefit from day one.


 

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