New Transfer Workbench added to the P1 Platform

Transfer Workbench gives P1 Platform users oversight of their clients' transfers

3 minute read

Transfer Workbench launched

P1 are excited to unveil our new transfers workbench as part of the standard functionality of the P1 Platform. Our new transfer workbench, which is understood to be a first of its kind, looks to eliminate the uncertainty traditionally found when transferring client assets between providers. It will improve transfer tracking and managing, allowing users to communicate with their client on position on their assets, removing that anxiety of assets entering the ether with little to no visibility. Previously, the transfer process and its tracking were opaque and antiquated; users requested a transfer for their clients, assets left the ceding scheme, followed by up to weeks of uncertainty and chasing with no visibility, and then assets arrived on the platform with no notification.

Transfer Workbench Adviser view


Open APIs

Utilising the platform’s open APIs, it is now possible for a firm or an administration team to track high-level transfer information, managing multiple client transfers through our workbench. At this level, it’s possible to view a client’s transfer status, previous provider, estimated value and the initial date or request and relapsed time. Digging deeper to the client level, advisers and wealth managers can see the granulated detail of each holding’s progress.


Transfer workbench client portfolio view


The workbench function we know will appeal to those managing their client’s tax situation will be the ability to input and edit the book cost of assets. The book cost of assets is crucial when reporting and managing Capital Gains Tax. However, these details are rarely passed on from the ceding platform, and it is even rarer in the platform space that advisors and wealth managers can edit them. The traditional expectation of managing it through a spreadsheet and contacting a platform administrator to update them is now redundant as it can all be managed and updated from within the platform.

The P1 Platform focuses on improving its users’ platform experience; it’s part of our ambition to keep the platform and its processes entirely paperless. We believe technology can and should be used to make advisers’ lives easier, allowing them to focus on financial planning, not administration. Our platform embraces the power of open API technology to improve efficiency for our clients. Our role as a platform provider is to provide features and tools that enhance the platform experience while leveraging API technology to seamlessly connect to the dedicated planning tools and CRMs financial advisers use.


James Priday, CEO of P1 Investment:

“The new transfers workbench is another way in which we can be operationally efficient while providing transparency to adviser firms by shedding light on what’s historically been a long-winded and opaque process. 

It’s already saving our platform operations staff several hours a week, reducing transfer-related queries by 50 per cent, and helping us to deliver the fantastic level of overall service for which we’re becoming well-known. It’s all part and parcel of our platform’s crucial role in helping us build the efficient – and self-sufficient – business of the future.”