P1 Investment Services has launched the P1 Wealth Pilot, an ‘all-in-one’ client onboarding and servicing portal for advisers.
The firm said the portal was created to tackle the ‘massive problem’ of siloed data sitting across multiple adviser systems.
It added that advisers’ own systems should be their ‘source of data truth’, rather than myriad third-party companies.
P1 Wealth Pilot will sit within advice firms’ own Microsoft environment. Client data will therefore be captured and stored within an adviser’s own systems.
Microsoft functionality such as its AI assistant Copilot can be used for automated functions including Outlook email notifications to clients, document sharing directly from a client file in SharePoint, and transcription of Teams meetings.
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Modules within the portal include a fact-find, covering things such as client ID documents, a risk profile questionnaire, service level and suitability report acceptance, cashflow modelling, a suitability report writer and an annual review generator.
The portal is platform and discretionary fund manager agnostic. It is initially accessible only to P1 Platform users but will be available to license on standalone basis later.
James Priday, CEO of P1 Investment Services (pictured), said: “We wanted to deliver something truly unique to the advice industry with Wealth Pilot, for the first time putting advisers in control of their data.
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“Nearly all advisers use Microsoft, therefore creating and deploying applications on Microsoft’s Power Platform into an advice firms own Microsoft environment makes so much sense to us. It means the data sits with them, and they can start doing amazing things with tools such as Copilot and Power Automate.”
