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21st Aug 2013
Intelligent Money (IM), established in 2002, delivers bespoke and low-cost SIPP solutions for professional intermediaries and white labelled solutions for larger corporate partners. Successful growth of the business meant their current software systems were nearing capacity. With plans to expand dramatically into workplace savings the time had come to move to a platform that could fully support the scale of their business.
IM is planning to help advisers ensure that employers meet their compliance obligations for Workplace Savings by providing different staff categories access to NEST or the IM Group SIPP via its exclusive payroll linked middle-ware technology. A single illustration and administration system solution was therefore needed to support this proposition as well as IM's existing and rapidly growing individual SIPP book. Launch plans for its Group proposition meant having a system that could be ready to take business within a few months.
A market investigation of software solutions rapidly concluded that CTC was the specialist best placed to meet all of IM's requirements. Julian Penniston-Hill, CEO of IM, said "From early discussions, CTC immediately understood what we were looking to achieve and demonstrated clearly and visibly how their system could enable us to operate efficiently at escalating volumes".
Accessing Elements securely over the web from CTC means IM need not be concerned with installing additional hardware infrastructure and provides the quickest route to launch. CTC Elements will be providing software to IM that will deliver fully compliant illustrations and handle all day-to-day SIPP administration requirements. Once group business is running then the existing individual SIPPs will be transitioned to Elements allowing IM to offer improved servicing for both accumulation and drawdown.