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Partners tool to automate advice process

Partners Life is launching an online tool, which it says is a world first, that will automate the advice process for life advisers.

Thursday, February 28th 2019, 11:53AM 3 Comments

Called Evince, the tool will do all the “middle bits” of the advice process, Partners Life managing director Naomi Ballantyne says.

She says it will help provide consistency of advice and should be welcomed by the regulators who want simplicity and transparency.

The Evince project started two years ago and Partners has put millions of dollars into its development. The lead designer of the Evince is Tim von Dadelszen who set up Life Direct which is currently owned by TradeMe.

Ballantyne says the tool is about advice and it doesn’t have any product information. Advisers who use it can choose whatever products they is not a sales tool

Ballantyne says it’s not a roboadvice tool. “We do not use robo advice ever, as it has connotations for replacing advisers.

Partners remains committed to the IFA market for its distribution.

She says if the company did not support IFAs “we would lose all our business”.

“We want to embrace advisers not replace them.”

Evince has been set up in its own company and Partners Life is prohibited from accessing any of the information put into it.

The licence to use it will be between Evince and advisers, however, Partners, as it built the tool will take liability for it.

Comprehensive training will be provided to advisers who use Evince and it will only be made available, for free, to Partners Life supporting advisers.

Tags: Partners Life

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Comments from our readers

On 28 February 2019 at 3:49 pm stevetutbury said:
Having seen their presentation, it is certainly an eye opener allowing clients to assess their true financial position and exposure to financial risk. If it works as intended it should result in a more positive client buy in.

Great it does not lead advisers to recommend any specific product, allowing complete independence when it comes to recommendations. Look forward to the launch.
On 28 February 2019 at 4:19 pm The Oracle said:
I attended the launch of this product today and to put it mildley, I was VERY impressed.

We've all needed this tool for many years. Thank you to PartnersLife for assisting us staying complaint!

A big example to follow by other providers. PartnersLife has so much confidence in their product, that the reports this tool generate doesn't even reflect PartnersLife's branding anywhere on it.

They believe the adviser should propose the company best suited to the individual clients specific needs! It takes balls to do this!! Congrats!
On 6 March 2019 at 9:46 am RS said:
Evince looks like an outstanding tool, and I will be using it. I did notice at presentation on Thursday some subtle Partners branding in the use of benefit labels like "severe trauma" for instance, but who could blame them.

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