New five year technology deal with

We recently announced that Tenet has signed an initial five year contract with Intelliflo for the provision of Intelligent Office (iO) for our members. As we’ve already shared, our current five year contract with focus:solutions was coming to an end, so we took the opportunity to conduct a strategic review of the leading systems in the market, which included feedback from our network member focus groups. We chose partner with Intelliflo and one of the key considerations is that it is specifically designed for the needs of financial advisers and mortgage brokers, with over 20,000 users and already adopted by over 10% of Tenet members. We strongly believe this is the best system for your business, with an established core solution to help advisers effectively manage the whole advice process and the flexibility for firms to bespoke it for their particular business model. Having made the decision to use Intellflo as our core system, we now have a lot of work to do to get things ready for launch, which is planned for Q4 2019. Over the coming months we will share more detail in terms of how we see members and Tenet using the iO system and what functionality it will offer following go-live, but essentially it will be used for advice recording and payment services and offer member firms a robust back office system. We have had a number of questions about migration of data and we can confirm that

and this will now migrate from Tenet Advantage to iO. The ambition was always to provide a system that improved the way we are able to carry out the necessary interface work with you but more importantly, a system that delivers real value for you in your day-to-day dealings with clients. Finally, we recognise that cost is a key and emotive issue. Our expectation is that we will be able to secure around a 50% discount on the iO published price, which will be achieved via a combination of a discounted price from iO alongside a significant subsidy from Tenet and any charges will not come into force until 2020. We believe that having access to iO at such a competitive price will deliver significant benefits to our membership. I hope therefore that you will join us in seeing this as a positive change for the future and we will be here to fully support you to adopt our version of Intelligent Office in the run up to the go-live date and beyond. Please also pay regular visits to the Intelliflo extranet area, which will house a growing set of support over the coming

we have all the data we need for migration prior to go-live, which will be moved from Tenet Advantage and OfficeNet and stored on a firm-by-firm basis in iO. If we need any further assistance with your data we will let you know on an individual basis. We’ve also had a number of firms asking if they can adopt iO before Tenet’s quarter four live date. Early adoption is not as straightforward as you might imagine as it would involve two implementations, as well as contract negotiations with early termination, all of which could incur additional costs, resources and contract penalties for your firm. Although it may not be effort or cost effective to install your own version of iO for such a short period of time, we will work with you to prepare in other ways for the transition to iO; such as adopting some of the iO friendly documentation like factfinds and suitability reports, or getting your data in shape. As we develop the new iO advice journey, we will share these suggestions with you so we can all benefit from the introduction of this new technology as early as possible. It is our intention to have integration with Twenty7Tec in place for go-live and one of the key considerations during our strategic review was Intelliflo’s willingness to integrate with Twenty7Tec. iO has also partnered with a large number of best of breed third parties to give you access to a wide range of tools, including Iress and Trigold. The Account Management team will be conducting a fact finding exercise over the coming months so we can understand what systems firms may already be using and associated requirements. Your current contract with Tenet includes access to a system for fee and commission processing

months and if you have any further questions, please send them to our dedicated email address:

I look forward to working with you to deliver this change to your business. Kind regards, Julia Elliott, IT and Change Director


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