Time to wrap up!
While 2023 was another challenging year for clients, financial businesses, and platforms alike, it's important to reflect on and celebrate the victories too. Here, Parmenion’s much loved Business Development Consultant Mattie Milsom Dyer takes a look back at what was an action-packed year for our business.
At Parmenion, 2023 was a year of consistent transformation and development, driven by the tireless efforts of our Developers & Delivery Team. We continued our mission to empower advisers and enrich the platform experience, successfully launching 11 major initiatives spanning diverse functionalities, but our commitment to innovation extended far beyond.
Underneath the surface, nearly 250 meticulously crafted platform improvements took root, representing over 83,000 lines of code thoughtfully written to streamline your workflows and improve the platform experience. This dedication to consistent development is made possible by our rapid release cycle. Every two weeks fresh features and enhancements were deployed which ultimately meant there was virtually no platform downtime.
Here are just some of our development highlights for 2023.
Propositional developments
- Expanded our external DFM range to help better support our partners’ CIPs – we now facilitate Brewin Dolphin, Brooks Macdonald, EBI, EQ, IBOSS, LGT, Morningstar, Pacific Asset Management, Sarasin, Schroders, Tatton and Waverton. If you’d like to discuss accessing any of these providers via Parmenion, please get in touch.
- Enhanced our Advisory Models PRO – to allow more flexible management of the consent process.
- Changed our fund data provider from Broadridge to Morningstar – to better support our Advisory Models PRO offer and reduce the time it takes to onboard new funds on to the platform.
Platform and service developments
- Introduced Platform Switch Service (Switch) – an innovative service which makes it easier for you to move clients in bulk from another provider to Parmenion.
- Providing better data integrations with your business tools – the latest can be found here.
- ‘Easy Apply App’ through Intelliflo – which feeds data added on Intelliflo through to the Parmenion application, without the need for dual keying.
- Providing more consistent and clear updates on transfers via the ‘New money pending’ tab – leaving you to focus your time on what matters most.
- Improved our capability to consolidate direct debit collections – ability for advisers to collect all direct debit payments for a client with multiple portfolios into one ‘main’ collection, so your client only sees one amount leaving their account each month.
- Made client bank details available to view via the platform – which means you can view these at a glance, without the need to call our Client Services Team.
- Updated our ‘Knowledge’ articles – where the answers to the majority of our process and service related questions can be found.
Product developments
- Client Level Crystallisation – the ability for clients to crystallise monies at a client level rather than at individual portfolio level, allowing advisers to specify which portfolios and/or holdings are used to pay out that cash to clients.
- Launched our Flexi ISA – enhanced the Parmenion ISA to a Flexi ISA, so clients can now pay back any withdrawn ISA funds in the same tax year without using any more of their annual ISA allowance.
We understand the importance of your time, especially when it comes to servicing your clients and building those important relationships. Administrative burdens can take away from that time, which is why we are dedicated to providing an efficient, intuitive and reliable platform, so you can focus on delivering the best possible outcomes for your clients.
We’ll be sharing news of the exciting developments coming your way throughout 2024, so follow us on Crowdcast and LinkedIn for updates. And if you’d like to see our roadmap for 2024, please get in touch. We’d love to tell you more.