IOOF has enhanced its adviser platform as part of the company's preparations for upcoming regulatory reform.
The group has changed the way advice fees are reported on its Pursuit platform as IOOF makes way for next year's Future of Financial Advice (FOFA) reforms, which come into force on 1 July 2013.
"We've made these changes to ensure that IOOF remains a recognised leader for service and continues to be easy for advisers to do business with," IOOF head of sales Geoff Kellet said.
"At IOOF we are continually striving to improve our IOOF Pursuit platform based on feedback from advisers and as industry regulations take effect."
Improvements to the platform include recognition of licensee fees to create a higher level of fee transparency in line with FOFA, and flexibility with advice charges to allow both flat dollar and fee options.
The options are designed to create flexibility on how advisers can charge for advice on insurance while the industry awaits further clarification of the FOFA grandfathering clause.
The Pursuit platform will also see streamlining to all of its application forms in order to provide additional flexibility.
In May, IOOF told InvestorDaily that improvements to its platform offerings would be the company's focus for 2012.
IOOF said the company wanted to improve the performance of its platform offerings as well as increase flexibility for advisers.
The changes come months after the release of IOOF Adviser Connect, which provided tools, strategies and seminars for advisers.
