We help our Wealth Management clients to reconcile
£100 million fee income a year
We provide operational support by eliminating manual re-keying so that you can ensure streamlined income reconciliation and free your team to concentrate on what they do best.
What our service offers
IFA Dataflow utilise leading technologies to provider outsourced income reconciliation support services. We enable clients to scale income collection without increasing headcount. With our support, our Wealth Management clients reconcile £100 million in fee income yearly.
We eliminate manual re-keying, streamline your income reconciliation and free your team to concentrate on what they do best. We transform and simplify your business processes, removing the pressure at month-end. You can focus your time on suspense accounts, aged debt and your many other important tasks. We save you time and money on reconciliation reporting, allowing you to maximise your investment in people and operations. With 20 years of industry experience, we understand your challenges.
You can rely on our dedicated team to support you.
Increased consistency
The automatic process for importing and exporting the files ensures the converted files are in a standard output format and ready to be imported into the back-office systems.
Reduced risk
Removing risk from manually processing statements and entering data.
Increased efficiency
IFA Dataflow eliminates manual re-keying of paper statements, saving time and money on income reconciliation.
Number of statements
Number of transactions:
100
How much it costs?
Please note this is just an estimation and excludes the one off set up fee of £250.
Frequently
asked questions
The accuracy of the system is very high, the system has software parameters to further improve accuracy by specifying the type and format of the data we are seeking to capture.
We can process files and deliver data back for all back office systems or bespoke requirements.
Our service agreement states 24 hours. Files can be processed much quicker on request.
We spend most of our production time making sure that the amount of money on the statement matches the amount specified on the statement. Sometimes a statement may not balance if for example a page is missing from the scan. If this instance we will email a notification to the nominated email.
We can send data direct to your back office partner if you use Iress Xplan or Curo Time4Advice.
What our clients say
“I would definitely recommend IFA Dataflow for firms doing a lot of manual data entry for commission statements. It’s a no-brainer. A few hundred pounds a month to have some statements scanned in versus the full-time salary of someone entering data and the human error that can result. It saves time, money and makes the process more accurate.”
Jennifer Gould, Group Financial Controller, Broadstone
“We’ve utilised IFA Dataflow for the past few years and they continue to provide us with a really efficient service. Being able to call on a service that converts PDF files to CSV with such speedy turnaround times is one thing, but when the CSV files are returned in an IO compatible template it’s even more resourceful.”
Tim Gale, Circadian
“The paper statements can be 10 pages long or more, and have 25 different items of income renewal, where the different items must be totalled separately, and then by the time you get to the end, it doesn’t balance, so it all has to be checked again. This is where IFA Dataflow is an absolute lifesaver.”
Joanne Morgan, IFA Outsourcing
“The people who work at IFA Dataflow are very efficient and helpful. If I need a statement returned urgently, I can always rely on them to process this as top priority and return it to me right away.”
Nadine Key, Thorntons Investments
“You know how when you find an amazing hotel or restaurant sometimes you don’t want to tell other people about it and you want to keep it secret? Well I hesitate to write this, but one of the secrets behind Policy Services Limited’s ability to deal with millions of legacy commission entries per year has been IFADataflow”.
David Ness, Policy Services
“IFA Dataflow has streamlined our commission and fee processing so much that we are now able to import data from a pdf file at the touch of a couple of buttons. The time saved in data input has allowed us to concentrate on other areas of the business.”
Emma Wilde, Marketing Manager, Ascot Lloyd
“As a long term customer of IFA Dataflow, we have always found their service to be fast and efficient. The files are returned promptly, without any fuss and there is always someone on hand to help whenever required. They can be relied upon to help support the high standard of service we offer to our clients”.
