New Feature Enhances Trustfolio’s Debt Adviser Support Portal
The recently introduced feature, part of the Trustfolio Debt Adviser Support Portal, now allows advisers to access clients’ bank transaction data in a user-friendly format that aligns with the Standard Financial Statement. This enhancement, coupled with existing credit reports from multiple Credit Reference Agencies available through the platform, provides a more comprehensive view of a client’s financial situation in a matter of minutes rather than weeks.
The Trustfolio Debt Adviser Support Portal is an online digital platform designed for not-for-profit advice organizations. It aims to reduce administrative work for advisers by streamlining the process of gathering clients’ financial information. The platform, which receives support from AdviceUK, has been used by over 160 agencies and more than 850 individual advisers.
The portal is managed by a team with experience in debt advice and the broader credit sector, ensuring that technological advancements are leveraged to enhance, rather than replace, the relationship between advisers and clients. This feature allows advisers to better support clients who may be digitally excluded or have mental health issues by providing relevant data based on individual circumstances.
According to Trustfolio’s Chief Operating Officer (COO), this new feature marks an important step towards transforming debt advice delivery into a one-stop-shop financial statement tool, which the company believes will greatly benefit all stakeholders involved. The COO acknowledges that while bank data access is not always appropriate or comprehensive, it offers significant time-saving benefits and improves client outcomes by providing a fuller picture of their situation.
With rising complexity in debt advice sessions and increasing demand for assistance, Trustfolio aims to free up advisers’ time so they can focus on what matters most when helping those in financial difficulty. Additionally, the company plans to introduce another new function that will allow advisers to refer clients to selected panel providers of debt solutions.
