2Plan unveils novation help tool

National IFA 2Plan Wealth Management has launched a tool designed to help new recruits with client novation.

The Virtual Administrator Service (VAS) can help manage the 'transfer of servicing' process, it says, which involves an adviser contacting their ex-clients if their former company fails to provide a novation service.

VAS will also help electronically "package" the business of 2Plan's 100 advisers which, it adds, could prove especially helpful to those practitioners who write lots of smaller cases.

"Our new VAS provides the full administrative support to package business cases completely electronically and no paper is required," 2Plan chief executive Chris Smallwood says.