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Press Release

Fidelity Adviser Solutions partners with Origo Integration Hub

19 May, 2022

Fidelity Adviser Solutions has partnered with the Origo Integration Hub to offer advisers a more efficient experience for a range of its account opening and trading services.

The integration of the Fidelity Adviser Solutions’ platform with the Origo service will streamline the process with which it integrates with advisers’ back-office software suppliers.

It enables Fidelity to link with multiple adviser systems through a single connection, rather than with each one individually.

To benefit from the service, the back-office software system used by advisers must link with the Origo Integration Hub, following which they can open accounts and conduct transactions – including buys, sells, switches, re-registrations and cash transfers – which will be received directly by Fidelity.

This removes the requirement for advisers to re-key data manually and will allow them to transact with Fidelity from within their back-office system, creating straight-through-processing (STP), thereby saving time, reducing costs, and mitigating the risks associated with the re-keying of information.

Samantha Christopher, head of Proposition, Strategy and Growth for Fidelity Adviser Solutions, said the integration helped with “one the biggest challenges advisers face … the burden of administration” which incurs costs and takes up time which could otherwise be spent supporting clients.

“Working with Origo, we can streamline the process of administration and develop a far more efficient process for the transfer of information, ultimately creating more time for advisers to spend in other areas of their business.”

Fidelity Adviser Solutions has been using the system since December with the Skipton Building Society for its adviser arm and Clarity. Christopher said over 11,000 instructions had been processed for the companies.

Benedicte Frew, Head of Financial Advice Onboarding & Risk for Skipton Building Society, said the introduction of straight-through-processing had been “a game changer for Skipton”.

“By streamlining the process, removing manual efforts and reducing keying errors, STP gives us the opportunity to scale without the need for extra headcount.”

Christopher added: “We hope to increase the range of software suppliers we work with in the coming months, allowing us to support an increasing number of clients who could benefit from STP services.”

Anthony Rafferty, CEO, Origo, commented: “Better integration is key to taking out the heavy lifting from the industry’s operations, making them more time and cost efficient, and thereby helping deliver better service to clients. There are now 46 companies signed to the Origo Integration Hub, using the integrations which fit with their business models.

“Partnering with Fidelity Adviser Solutions provides a superb example of the benefits to be gained by product providers, platforms and adviser businesses when they use a centralised hub for key account, data and transactional operations.”

This article was originally published on Professional Paraplanner, available here.