Legal & General is ditching TrigoldCrystal’s point-of-sale system for its wealth advisers and is reviewing its options for mortgage brokers.
A spokesman for L&G says the group has undertaken a review of several point-of-sale systems to find the best way to support all elements of the business following the Retail Distribution Review.
She says: “Intelliflo has been chosen as the preferred software supplier for RDR, but a decision has not yet been taken on whether we will also roll out Intelliflo to non-wealth sellers.
“We are going through a review to help us make this decision and TrigoldCrystal has been kept informed.”
Martin Colyer, joint chief executive officer of TrigoldCrystal, says: “L&G has been looking at alternatives for its investment business and there are other systems that are more investment-focussed than ours.”
But he adds it is considering developing its pension and investment proposition on its point-of-sale system.
The news comes as Mortgage Advice Bureau announced plans to switch from TrigoldCrystal to Client Data Systems’ new system The Core.
Peter Brodnicki, chief executive of MAB, says: “Selecting The Core enables our advisers and network members to spend more time on advising and less time on administration through improved sourcing and integration with established MAB software.
“Although the decision has been made, transfer timescales are still to be agreed.”
Ian Merriman, sales director for Client Data Systems, says The Core is the first in a range of software that it will be launching this year and next.
Colyer says MAB’s departure will not have a huge impact on the business.
He says: “We are sorry to see it go after eight years, but we still supply more than 70% of the market with mortgage sourcing and have over 16,000 users, of which MAB made up a small proportion.”
He says it is working on a number of improvements and developments to its sourcing system.
He adds: “We are creating a ’what if’ scenario on the site for brokers who would like to explore a range of scenarios, such as different incomes.”