AJ Bell Launches Tax-Free Cash Tracker to Save Adviser Time

UK investment platform AJ Bell has launched a new pension commencement lump sum (PCLS) tracker for advisers through its AJ Bell Investcentre. The tool, available on the main client dashboard, enables advisers to view the real-time status of PCLS payments and any subsequent income requests, reducing the need for telephone inquiries.

According to an analysis by AJ Bell, the tracker could eliminate the equivalent of around 100 working days of adviser telephone calls per year, based on historical PCLS call records. Advisers can now see how many working days have passed since they submitted a PCLS request, alongside the standard payment timeframe. This allows advisers to keep clients informed without spending time chasing updates by phone.

The PCLS tracker is the latest in a series of time-saving enhancements to the AJ Bell Investcentre over the past 12 months. Previous improvements include a new online Bed and ISA tool and partnerships with Woven Advice and Mabel Insights.

Mark Rendle, AJ Bell advised product director, said the tool addresses needs in a tax environment that has been "embroiled in political speculation," leading to client uncertainty and greater demands on adviser time. He noted that the tracker saves valuable time that advisers can deploy elsewhere, affirming AJ Bell's commitment to improving service and streamlining the adviser experience.