Standard Life is offering an online business tracking facility for financial advisers to track trust applications. Trust tracking has been designed to complement the new business tracking for applications and increments, Standard Life says.
The trust tracking facility is available for bonds and provides a real time status report on the trust application. This is of particular use with discounted gift plan applications where underwriting can be involved. For example an adviser can check if a GP report has been requested or received, giving the adviser a real sense of where the case is.
Julie Hutchison, national development specialist for estate planning at Standard Life, commented:
As the only provider able to offer this unique service we will let advisers retain ownership and control when setting up trusts. This can be especially important with discounted gift plan applications as they can be, by design, more complicated and take a little longer to process. The trust can be tracked at a glance making their use with investment bonds even more appealing.