IOOF yesterday announced the tenth anniversary of its flagship platform, IOOF Pursuit, reporting $16.4 billion in funds under administration (FUA) as at 31 August 2016.
IOOF Pursuit was first launched in October 2006, reaching $1 billion in FUA within three years. It has evolved to suit advisers’ needs over time, with a focus on simplicity in an increasingly complex regulatory environment. IOOF Pursuit is a very smart, intuitive and powerful platform that is also very easy to use.
Over the past year, IOOF has made several enhancements to IOOF Pursuit including: a redesigned online trading portal to allow the placement of buy and sell orders for shares, managed funds and term deposits in one place; an automatic re-weighting function; online same day withdrawals; improvements to the platform’s functionality around corporate actions; and a new portal to manage maturing investments.
IOOF Pursuit’s recent enhancements have concentrated on the development of functionality that has helped advisers administer their clients’ portfolios more efficiently, streamline their business processes and reduce the amount of time clients are out of the market.
Chris Weldon, IOOF Head of Product, said “Many wrap platforms have become quite complex to operate, but our focus has been on honing the usability of our platform features that really matter to advisers rather than providing all the bells and whistles available.”
“We want to empower advisers by simplifying their delivery of advice and making the client portfolio management process more efficient, ensuring that their clients receive the full benefits.”
“A wrap platform’s role is to support the advice process by making the associated investment and administrative tasks as efficient as possible, so advisers can focus on the things that add real value for their clients.”
Mark Oliver, IOOF General Manager, Distribution, said: “We are proud of IOOF Pursuit’s ten-year track record of delivering simple yet powerful tools to improve the value and quality of the advice that advisers offer their clients.”