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21st Jun 2013
IPM, a bespoke SIPP provider to advisers, has made the decision to replace its current illustration system with Elements. IPM support over 4,500 clients with total assets exceeding £1bn. Following regulatory changes in April 2013 to provide realistic growth rates, IPM were struggling with the lack of flexibility in their current solution.
With the concept of asset classes in Elements, IPM could readily see the capability to have any number of growth rates with multiple assets in a single illustration. IPM also had in mind the forthcoming regulatory changes for 2014 which CTC were committed to providing so giving peace of mind to IPM.
IPM was impressed with the overall ease of use and flexibility of Elements particularly when coping with complex cases that involve multiple contribution sources and transfer. Other significant advantages with Elements were the online capability and the automation of SMPI. Enabling advisers to produce illustrations directly over the internet is expected to be a big saving and improve service to advisers who at times can generate six scenarios for an individual client.
IPM uses the illustrations service from CTC online and so do not have to install any software. Following a decision to proceed then the service was available within one week ready for IPM to do business.