Case Study: on-boarding a network

Working together

It has been two years since the HLPartnership (HLP) engaged with 360 Dot Net to become its technology partner. Recognising the strengths of 360′s Practice Management System, HLP worked with 360 Dot Net to create the first fully integrated FactFind and mortgage and protection sourcing solution, intelligently using data and focused towards the frictionless interaction between both adviser and client.

Changing of technology partners is not an easy decision and often networks remain with their incumbent provider as the process of change is difficult and disruptive to the network and its members. For the HLP senior management team, they recognised that the growing threat of technology providers, speed and reaction to market, regulatory demands, and growing complexities of compliance at both an intermediary and network level, could not be addressed in a timely manner for their business.

The ability of technology to negate the growing intensity of compliance with automatic storage, tracking of documentation, dated and time-stamped actions and recorded processes, would allow HLP to remain proactive and lead the market.  Enhanced marketing capabilities,  distributable on a network scale, would allow marketing campaigns to be generated using pre-approved materials that could be pushed directly to the advisers to send onto their client banks. Creating a more digitally focused experience with two-way client and adviser engagement opens up the opportunity to pass tasks to the client, receive documentation and communicate through instant messaging, expediting the sales process and eliminating unnecessary administration. Lastly, leveraging data captured would not simply be used to create reports, but generate insights for the network and advisers as Martin Sims, Operations Director, noted, “the industry is full of data that rarely becomes knowledge”.

After an extensive exercise to select a technology partner, HLP chose 360 basing its decision towards a solution that addressed the above in terms of existing functionality; as Christopher Tanner, HLP CEO, commented, a partner that provided them with “visible improvements of technology” and a continuous cycle of enhancement. In addition, the collaboration between HLP and 360 in developing the integrated FactFind allowed HLP to “help in the design of the system” alongside with developers “who intrinsically understood the sales process”, provoking modifications and improvements that neither single party would have achieved individually.

In July 2015, HLP rolled out the integrated mortgage and protection FactFind to its advisers after six months’ development and consultation with 360.  Since that time, HLP‘s adviser numbers have swelled by 60% and in 2016 observed over £2 billion of mortgage lending through the FactFind and fulfilled these sales through the 360 CRM.  HLP’s technology offering is also becoming one of the selling points for enticing and on-boarding advisers with 360 reducing the barriers related to importing data from other networks.  In addition, 360’s software easily allows intermediaries to partner and coalesce their data footprint that subsequently extends their business capabilities.

For HLP, its integrated FactFind seamlessly links into the 360 practice management suite, creating a virtuous feedback loop where acquisition leads to fulfilment to retention, with existing data being pulled back into the process from the practice management system when reacquiring qualified business.  With the ability to participate in developing the FactFind with 360, HLP helped create a tool that engages their advisers, intelligently layering compliance into the process, and including time-saving features such as the Client FactFind that saves adviser data capture and engenders client commitment.

In retrospect, the partnership between 360 and HLP has enhanced the proposition of both organisations with Carlos Thibaut, CEO of 360, concluding that “360 Dot Net has a long heritage of providing ‘best of breed’ practice management software that strengthens the functions of an intermediary regardless of the size of the business.  The FactFind introduces and tightly couples the sales process into the 360 software offering, creating a complete solution that is proving to reduce process inefficiencies and generate additional revenue for intermediaries.  For HLP and other users of the FactFind, we are continually improving our software offering and recent product releases, such as the Client Portal that wraps around the sales process by engaging the client into the process, will continue to improve and reinforce our proposition and that of our partners.”

If you would like to find out more information about the 360 FactFind or any other features of the 360 product suite, please do not hesitate to sign up to one of our free training webinars, or alternatively, please contact our friendly Sales Team.