Brooks Macdonald partners with Woven Advice on CIP implementation

Brooks Macdonald has partnered with Woven Advice to support financial advisers with implementing investment propositions consistently and efficiently across their client books.

The wealth manager said that while independent financial advisers (IFA) already have access to tools to research and build central investment propositions (CIP), rolling out those propositions across client books has been more challenging.

Woven Advice, which builds data infrastructure for the advice sector, aims to bring platform, product and investment data into a single view.

Firms can then assess their client book against its CIP in a more efficient manner in less time.

Personalised suitability reports and client communication tools then carry that assessment through to each client individually.

Advisers and paraplanners from Brooks Financial gave input on the development of Woven Advice’s solution, shaping how the technology handles client-by-client recommendations.

Brooks Financial is already using Woven Financial, alongside several IFA firms within the Brooks Macdonald strategic partnerships programme.

"Everything we do at Brooks Macdonald is centred on delivering outstanding outcomes for our clients,” said Brooks Macdonald CEO, Andrea Montague.

“By combining personalised advice with the right digital capabilities, we aim to be the wealth manager of choice in the UK known and chosen for our customer service.

“Partnering with Woven allows us to enhance our service proposition through innovative technology, while staying true to the adviser-led approach that our clients value."

Woven Advice CEO, Nicky Sevel, added: "Good advice is often let down by the infrastructure behind it.

“Data sits in different places, reviews take longer than they should, and clients end up paying more than they need to. Woven exists to fix that - cutting the cost clients carry and giving advisers their time back.

“Working with Brooks Macdonald lets us do it at real scale, with a firm that shares our view of what advisers should be spending their day on."

---