Third Financial Pushes to Modernise Advice Sector With 2-way Intelliflo Integration

Third Financial, the investment platform trusted by more than 70 wealth managers and IFAs, has developed a market-leading 2-way integration with intelliflo office (io), as part of Third’s efforts to help advisers simplify and scale their businesses.

This development marks the deepest level of integration with io available from any adviser platform.  All clients and plans opened and maintained in io are electronically updated to the platform in real-time, eliminating dual keying.

Third Financial’s platform allows advice firms to gain significant operational efficiencies by consolidating their multiple platform relationships into a home for all their clients and under their own branding.

intelliflo works with 2,500 financial advice firms across the UK, helping them with a personal finance portal, electronic signatures, management information reporting, lead management, and fact finds.

The leading IFA Foster Denovo partnered with the Third Financial platform in 2019.

Amir Hakim, Proposition Director at Third Financial, said: “Our well-established integration with intelliflo is part of our ongoing effort to modernise advice businesses.  Naturally, we want to attract new firms to our platform, but the wider mission is to help advisers simplify and scale in a sector that is prosperous and efficient for both clients and advisers.  The adviser segment lags behind other financial services.  Advisers are well-aware they need to follow suit, with too many advice practices still running their business across multiple platforms.  To date they have lacked an obvious single alternative to turn to but we are now providing that alternative.”

Helen Lovett, Chief Operating Officer at Foster Denovo said “We worked with Third Financial to design and build the intelliflo office (io) interface.  The 2-way interface has removed data rekeying between the systems and enabled us to onboard clients and process advice administration far more efficiently.”

Third Financial, meanwhile, is now one of the largest independent regulated technology firms offering investment platform and software services to wealth managers, financial advisers and family offices.

Ian Partington, Group Chief Executive Officer at Third Financial, said: “The advice sector is facing manifold challenges including fee pressure, rising costs, and further layers of regulation. This comes atop a cost-of-living crisis that is increasing drawdowns and impacting client sentiment.  As margins are compressed, the best course of action is to reduce the long-term administrative burden, leaving more time for IFAs to engage with clients and grow their business. As the market and client demand changes, it is much easier to adapt if you have a simplified operating model.”