The second new upgrade will be electronic signatures. We are at a stage where we are looking into the possibility of accepting electronic signatures on documents that today require signatures by the client and/or the IFA.
Together with online application forms, this system could mean clients and IFAs in future can do the full application online without the need for any paper at all.
It is very important everyone working with us constantly feels that we are driving for improvement.
What changes do you see in distribution?
We can see that the IFA organisations that we work with are getting bigger and bigger. There is consolidation where ever you look right now. This only brings benefits and we will get positive effects from the scale.
Are there any changes to your products?
In 2016, we are looking to launch a regular savings plan. At the moment we only offer single premium product with a $30,000 core currency equivalent minimum.
We are pleased with our flexible portfolio bond in terms of fees and duration, so the one thing we intend to add is the regular savings plan.
How about the Qrops business?
In response to a high demand for pension products, we have now set up arrangements with many pension providers, with many more on the way, allowing them to use Custodian Life with Qrops and trusts.
We can see clients have a greater appetite for exchanged-traded products (ETFs) as they are such cost-efficient instruments. When it comes to the cost side, it is also quite a good sales pitch for an IFA when comparing ETFs with the traditional instruments.
Clients are also increasingly willing to buy into daily traded products, and that is where the Saxo platform has really done well. People are moving away from illiquid assets where it could take a couple of months to sell the product. They want the possibility of selling the assets fast and to go in and out of the market.
The major trend we are seeing now is that clients are staying away from alternatives and moving more into the fund houses and the Morningstar-rated funds.
