LEBC is entering a 50/50 technology joint venture with Northern Ireland-based adviser Kerr Henderson to produce advice-supporting software.
Describing the approach as ‘bionic’ rather than ‘robo’, because of the human/technology approach rather than a fully tech-based structure, LEBC says the project aims to enable advisers to work more efficiently in giving advice using intelligent systems for fact-finding and report writing.
The project, called ‘Hobnob’ internally purposes, aims to launch a working prototype by the end of May. The initial prototype will seek to enable the delivery of advice at retirement.
LEBC chief executive Jack McVitie says: “This is an important step for us with regard to building our bionic advisory offering. In Kerr Henderson we feel we have found the perfect partner, combining financial services knowledge with strong IT skills. The aim is to produce software that will give further market advantage.”
Kerr Henderson managing director Michael Kerr says: “This is a very exciting venture for all parties and we look forward to working together to produce something which is truly industry leading.”