Ascentric launches new partnership with Sprint’s Fastrak client reporting

The Exchange

The information contained in this page is for professional Financial Adviser use only.

At Ascentric, we’re not afraid to say that a platform cannot, and should not, be a jack of all trades. Our platform has its core strengths in custodianship, trading capabilities, a broad range of assets and DFM access. But we can never be experts in absolutely everything and are more than happy to partner with external specialists where we can see a clear benefit to our advisers and their clients.

And that’s where Sprint comes in. Having built a strong relationship over a number of years already, Sprint and Ascentric have now partnered to offer advisers a new service that collates a client’s full valuation and transactional history to produce a fully customised client report in just two minutes.

“Many of our advisers tell us that they need much more tailored client reporting services to keep pace with client needs,” explains Nick Hood, Proposition Manager at Ascentric. “Sprint has an unrivalled track record in data and client reporting, so we’re really excited to be able to offer our advisers a significant discount to access the Fastrak client reporting service, thanks to our ongoing relationship with the team at Sprint.”

But don’t just take our word for it, here’s how the technology works and what advisers really think of it:

‘Something completely unique’ – the technical view

The first question in many minds is likely to be ‘why use Fastrak over in-house platform reporting or a back-office system?’ Sprint Enterprise Technology Director of Business Development, Gary Shepherd, explains: “Platforms and back office systems can never really specialise in something like in-house reporting. The reality is, it will only ever be part of what back-office providers do, whereas Sprint is entirely focused on this area of the market.”

So how does it work in practice? “From the moment an adviser signs up we access full transactional data history from the Ascentric platform on every single one of their clients,” says Gary.

“How this gets turned into the final, comprehensive, client report can be tailored entirely to the preference of each adviser firm but one of the most popular options is the complete customisation available,” he continues. “And we don’t just mean adding a logo. Sprint’s customisation allows advisers to make their reports entirely unique, tailoring the design, layout and even the language of the report to both their brand and client needs.

‘A real investment in our business’ – the adviser view

For Cornerstone Asset Management Co-founder and Partner Jason Hemmings, investing some time upfront to create entirely seamless, and customised client reports has brought tangible benefits. “We started by simply talking to clients about what they wanted to get out of our reports,” says Jason. “The results showed us that our previous method of reporting wasn’t matching up with client expectations and Fastrak looked like an ideal solution.”

“Increased quality, efficiency and engagement have been clear positives for the business and clients alike,” continues Jason. “One of the biggest benefits for our advisers is that there is absolutely no requirement to enter any data manually yourself – all of this is done automatically by Sprint. And taking a bit of time initially to customise our reports has absolutely been worth it given the more productive, meaningful, conversations we’re now having with existing clients and the number of new business recommendations that are coming through our door as a direct result.

“Almost every piece of quality technology comes with a cost but this is undoubtedly a sound investment in the future of your business. The fact that we can save time producing these reports while increasing quality and consistency gives us piece of mind that we’re producing the best possible service for clients. Lastly but in no way least, adding this type of value to advice is so crucial in the current regulatory environment and we’re confident it will help us stay one step ahead.” 

The information contained in this page is for professional Financial Adviser use only. If you are a private investor, please visit the Private Investor section or contact your Financial Adviser for more information.

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