Investments: 5-star providers

Transact

Key activities

1. Launched live chat service, offering immediate online support for advisers with platform or functionality queries.
2. Launched co-browsing, which combines real-time screen display with a phone call. With the advisers’ permission, Transact sales support staff can access the advisers’ view of Transact Online.
3. Enhanced investor authorisation functionality, which enables advisers to recommend a transaction and request authorisation for the transaction from their client.
4. Added peer review, which allows adviser firms to improve internal checking procedures.
5. Implemented the Investor Data Confirmation, allowing advisers to provide Transact with complete and accurate data under MiFiD II.

Upcoming plans

1. All advisers, regardless of size, have access to the same excellent level of service and support
2. Operate regionally aligned service teams rather than product silos.
3. Continued direct unlimited access for advisers to technical support team.
4. Transact will continue with ongoing programme of ‘responsible pricing’ in 2017.

Jonathan Gunby, chief development officer, said: “2017 has been another successful year for Transact. Assets Under Administration increased to £27.9 billion as at 31 August 2017.”

Scottish Widows

Key activities

1. Invested in establishing a dedicated investment communications team. The team’s purpose is to create informative and engaging content for customers and intermediaries to make it easier to make good investment choices.
2. In-house asset allocation team continues to use analysis and expert judgement to make investment decisions to improve performance of multi-asset portfolios.
3. Continued to upgrade fund range through the addition and closure of funds.

Upcoming plans

1. Planning to launch a series of risk-rated retirement portfolios that are designed specifically for drawdown customers. These portfolios will manage equity risk by adjusting exposure in volatile markets.
2. Will launch programme to help advisers keep up to date with relevant fund-related developments from Scottish Widows and wider issues.
3. Will continue to refresh and update fund ranges to promote greater transparency of the cost and operation of funds.

Iain McGowan, head of fund proposition, said: "Alongside the development of our fund range, we have continued to strengthen our fund governance and investment decision making, while building our contribution to the adviser market through investment writing."

Ascentric

Key activities

1. Changed the way business measures service standards to align with adviser expectations.
2. Simplified pricing structure.
3. Replatforming.
4. Made transfer application process much more adviser-centric.
5. Reduced time period for customers who want to withdraw their money.

Upcoming plans

1. Continuing with service improvement programme.
2. More investment in online and digital tools.

Sarah Lyons, head of marketing at Ascentric, said: “Our focus will be 100 per cent on the advised market. That’s because we believe that financial advisers get the best outcomes for customers. There is a complete focus on advisers and we have looked at our proposition and identified areas where we needed to improve to help advisers service their clients brilliantly.”

LV=

Key activities

1. Conducted reviews and enhancements of investment product.
2. Refreshed flexible guarantee fund product to reflect the new way in which consumers are approaching their retirement income.
3. Reduced costs and improved productivity by investing in technology.
4. Continued to campaign for consumer issues.

Upcoming plans

1. Investing in digital initiatives and people.
2. Providing real-time information to advisers on the status of their pipeline cases.
3. Making the most of the realigned life and pensions structure to reflect the increased focus on long-term savings and the overlap between the two areas.
4. Continuing developing pension investment proposition with addition of new model portfolio service: LV= Choice.

Prudential UK

Key activities

1. Discounted gift trust enhancements for onshore bonds – enhancing the use of tele-interviewing to reduce the overall end-to-end time for cases set up.
2. Electronic signatures introduced within new digital proposition of the retirement account.
3. Trust and application generation tool for onshore and offshore bond propositions supporting the clean submission of business and meaning the client’s case is set up quicker.               
4. All discharge forms sent to ceding companies for pensions proposition by recorded delivery – this has received very positive feedback from the adviser population.
5. Technical Helpline – 14,000 calls to the helpline in just eight months on issues such as inheritance tax planning.

Upcoming activities

1. Continued expansion of PruFund and investment option to Isas and retirement products as more people move towards the latter stages of saving.
2. Continuing to provide guidance on market issues.

David Macmillan, managing director, wealth solutions at Prudential UK, said: “From our structured CPD programme on a range of topical regulatory and technical subjects to hosting two national seminar series, each across 20 locations nationwide, 2017 has seen us grow our support the intermediary adviser community. These events form an important addition to the ongoing support for advisers.”

MetLife Europe

MetLife launched its UK wealth management business in 2007 with guaranteed retirement and investment solutions and serves around 50,000 customers.

In July, MetLife UK announced it would close its wealth management business to new business to refocus its strategy to drive the growth of its employee benefits and individual protection businesses.

At the time, bosses said high levels of service would be maintained for existing wealth management customers and their advisers.

As a result of this, the company has confirmed it will not be taking part in this year’s Service Awards.

Last year was also a fantastic year for the company.

MetLife Europe won the Outstanding Achievement award after years of excellent customer service.

The life assurer had also never dipped below the five-star service category in the investments section since its first appearance in the 2011 survey.