NFP, a market leader in corporate benefits, wealth management and commercial insurance, has partnered with Legado, a fintech firm focussed on providing a digital life planning platform to help consumers prepare for key life moments, to digitise the life planning process for NFP clients.
Legado’s suite of tools enables the organisation, storage and sharing of personal data with those they choose, including advisers and loved ones. It is presented and communicated in a way that is easily understood by the client, who maintains complete control over everything. The Legado platform is GDPR-compliant and clients can save their documents forever in a safe, easy-to-find way.
The agreement announced today will enable clients of NFP to use Legado’s life planning platform, enabling them to get statements and information instantly, with no hassle or fuss, and store them in a secure location indefinitely.
Richard Basford, Managing Director for NFP Wealth Management, said: “Client engagement and intergenerational planning are emerging as two of the most important considerations in the financial advice sector. Our clients expect us to provide them with more than just financial advice, with an increasing number coming to us about other areas of life planning. We had already been looking to digitise areas of our client experience, with a focus on solutions that would let us work closely with our clients in a secure and simple manner, and that does not add complexity to what can already be highly complex situations.
“When we saw Legado, we knew it was the right solution for our business. Not only does it provide a secure way to exchange key documents, but it provides a relevant and engaging service to help our clients plan for the future and key life events. We hope that by providing this service our clients will recognise the additional value we are providing to them to ensure they are prepared for the future.”
Josif Grace, CEO of Legado, said: “NFP is a great example of a company that is not only looking to digitise their client experience, but modernise and personalise it. By utilising the Legado platform, NFP is creating new opportunities on which they can engage clients, and their families, at key life moments. With Legado’s combination of insight, personal planning tools and technology, clients have a truly holistic view of how prepared they are for the future, while smart, actionable nudges can help people make small changes that can make a big long-term difference. We are delighted to be working with NFP to put them at the forefront of innovation in this space.”
NFP’s Basford added: “Legado gives NFP clients full control over the entire experience, and so puts NFP and its advisers at the forefront of both client experience and safety. This will be the industry standard in a year or two, and we are excited to be leading the way in showing how all professional services businesses will be working in the future.”
The Legado planning API will enable NFP to quickly and easily NFP to integrate the platform into their existing technology estate, and the pilot will initially give NFP’s advisers and clients full access to a cobranded version of Legado’s life planning platform.
NFP is a leading insurance broker and consultant providing specialised commercial insurance, in-country and global employee benefits, and individual solutions through its licensed subsidiaries and affiliates. NFP enables client success through the expertise of more than 6,000 employees in the UK, Ireland and across the globe. Our professionals support diverse client needs through investments in innovative technologies and enduring relationships with highly rated insurers, vendors and financial institutions. NFP is the 5th largest benefits broker by global revenue (Business Insurance), 10th largest property and casualty agency (Insurance Journal) and 12th largest global insurance broker (Best's Review).
Visit nfp.co.uk to discover how NFP empowers clients to meet their goals.
Legado has developed a life planning platform – focussed on eliminating fragmentation of personal data & files across enterprises (utilities, banking, insurance pensions etc), improving ownership of data by consumers, and streamlining corporate processes (e.g. account opening, change of address, change of provider, bereavement, divorce, marriage etc).
The digital vault and planning experience intelligently connects data, services and the network of people involved with personal planning and key life moments, utilising consent-driven principles and open architecture.
Legado is available to professionals, corporates and consumers and can be used at any time, however, can be particularly useful during key life moments and stages.