Network News: November 2023

ISSUE 03

FIND US ONLINE hlpartnership.co.uk

NOVEMBER 2023

TECHNOLOGY EDITION

IN THIS ISSUE A BALANCE OF TECH AND TOUCH

OUR TECH VISION

The importance of finding that

Driven by the needs of our

right balance between leveraging

members, we share the HLP

the efficiency of technology and

technology vision – where we

maintaining the irreplaceable

want to aim for and the roadmap

human touch.

of how we’re going to get there.

REVIEW OF RELEASES TO DATE

WHAT'S COMING NEXT?

Get the most from our recent

HLP continually strives to improve

technology releases – including

the member experience, join us

innovations such as our commissions

as we share what’s coming next in

system, new dashboard functionality

our pipeline of technology releases.

and training & development hub.

Contents

01

IMPORTANCE OF TECH ADOPTION

A Balance of Tech and Touch

02

06

OUR TECHNOLOGY VISION

HLP’s Technology Journey

10

Roadmap

12

03

WHAT'S BEEN RELEASED

Review of Releases to Date

04

WHAT'S UPCOMING

What's Coming Next?

05

16

28

PREVENTING CYBER CRIME

A Rise in Email Compromises

38

Protecting Against Cybercrime

42

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Introduction I’d like to start by giving you a warm welcome to this special Technology Edition of our HLP Network News Magazine and firstly say how impressed I am at the innovation and dedication shown by our member firms as you all adapt to the new world of Consumer Duty and today’s challenging marketplace.

As your Network, we are here to support you with the range of tools and systems to enable you to give the very best service to your clients. We’re a Network built on easy-to-use technology that powers your business and powers your growth – and we are excited to share our vision of what’s instore over the months ahead.

You’ll doubtless be familiar with our new Commissions system, introduced last year to an extremely positive reception from members, and we hope has transformed your day-to-day experience. We have recently been excited to launch our latest round of updates to the HLP Adviser Portal – bringing a refreshed appearance that introduces a new Communications & Events hub, as well as easier, more convenient access to the Hub on a range of devices, to reflect how you interact with us in your daily lifestyle.

This is just the start of our technology journey, and we’d like to take you on board and show you our vision and where we’ll go next, how we’ll make your HLPartnership experience easier, faster and introducing new tools to help you deliver even greater service to your clients every day.

We’re driven by your feedback, so please do continue to let us know what you think, and keep an eye out for the latest updates on what’s new and how it can help your business.

Christopher Tanner Chief Executive Officer

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01

IMPORTANCE OF TECH ADOPTION Today’s client is digital-first, but not digital-only. Find out why advisers need tools that seamlessly merge the digital experience with a personal touch.

IMPORTANCE OF TECH ADOPTION

A Balance of Tech and Touch The mortgage industry is no stranger to change. As the winds of digital transformation blow across sectors, brokers sit at an intriguing juncture. In this ever-evolving landscape, embracing tech isn't just a trend, it's an imperative.

Today's borrower, entrenched in a digital

• Efficiency Reinvented:

world, from streaming binges to managing

Leveraging tech, brokers can quickly sift

finances online, expects their mortgage

through paperwork, manage appointments,

journey to be just as streamlined and intuitive.

and handle repetitive tasks, allowing them

Yet beneath this digital veneer lies a robust

to concentrate on what truly matters - client

need for genuine, human mortgage advice.

relationships and providing sound advice.

It's a delicate balancing act: offering the efficiency of technology while maintaining the irreplaceable human touch.

• The Power of Data: With a wealth of data at their fingertips, brokers can garner deep insights, tailoring

Consider the idea of pilotless planes. Sure,

their strategies to individual client profiles

technology is advanced enough to make it

and market trends.

possible, but would the average passenger be entirely at ease boarding one? Likewise, the rise of robo-advisers initially seemed like the next big thing in our industry. However, they soon grappled with a marketplace that, while appreciating efficiency, yearned for humanled assurance. But here's a thought: while the first wave faced challenges, there's nothing to say the next wave, having learned from past missteps, won't find their stride. A crucial takeaway? Technology can be an enabler, but the human element remains at the helm.

Where does this leave our members?

• Meeting the Digital Expectation: Today's client is digital-first but not digital-only.

Brokers need tools that seamlessly merge the digital experience with a personal touch.

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Now, a crucial footnote. At HLPartnership, we're dialled into these industry shifts and the demands of the digital age. We're not just passive observers; we're active participants and influencers. Our pledge is clear: furnish our member firms with top-tier technological tools and insights to ensure their longevity and success. We've already initiated this technological pivot, investing significantly in next-gen solutions. Brokers devoid of this tech advantage might find themselves trailing as larger mortgage firms harnessing tech's full potential lead the charge. It's a transformative period for the industry, and at HLPartnership, we're ensuring our members are at the forefront of this revolution.

It's a delicate balancing act: offering the efficiency of technology while maintaining the irreplaceable human touch.

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02

OUR TECHNOLOGY VISION Join us for the HLPartnership technology vision, for where we want to aim for, and a roadmap of how we’re going to get there.

HLP’s Technology Journey In our earlier article about the ever-changing landscape of the mortgage sector, we touched on the emerging role of technology. Building on that foundation, HLPartnership is now actively progressing in developing its bespoke technology platform. Far from being a fleeting focus, technology is forming the keystone of our network’s long-term blueprint. A demonstration of this commitment can be seen in our substantial resource investment, notably our initiative to assemble a high-calibre team of developers under the leadership of Chief Technology Officer David Steele, who joined us following his tenure with 360 Dotnet.

Our objective remains transparent: the

A pivotal move in our tech journey was the

development of an integrated platform, one

overhaul of the commission payment process.

tailored to meet our members' unique needs.

The result was a system where clarity and

This platform isn't just a response to changing

precision reign supreme, giving our members

times; it's our contribution to setting industry

a clear picture of their earnings and when

benchmarks, ensuring the features and tools

to expect them. The positive reception

on offer align perfectly with the real-world

to this change was immense, reinforcing

challenges our advisers encounter.

our belief in the direction we're headed.

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OUR TECHNOLOGY VISION

But we aren't stopping there. Up to this point,

This is just the beginning. Our vision for the

our primary focus has been on the groundwork

referral system includes adding more features

of data security and migration, which means

and collaborating with partner services to ensure

there have been no tangible releases until very

that advisers always have the option, if they wish,

recently. However, with these robust measures

to refer clients to trusted specialists in various

firmly in place, we are now prepared to introduce

areas of advice if it's deemed best for their client.

a range of advanced features that will significantly enhance the tools available to our advisers.

Therefore, over the coming weeks and months, we will be releasing new features on a staggered but fairly regular basis.

Throughout this special edition of the tech magazine, we will provide you with additional details regarding what we have already released and our upcoming plans for the near future.

On the horizon, we're preparing to launch the GI referral service, reaffirming our commitment to supporting our members.

In the upcoming year, our focus is on collaborations. We are particularly excited about partnering with industry giants like Experian.

Such alliances are crucial for embedding open banking features, simplifying ID verification procedures, and providing comprehensive

Here's what members can expect in the

credit reports. Our development team is crafting

near future:

tailored fact-finding processes to cater to distinct

1. Messaging System: • Focuses on secure and confidential communication within the network.

• Enhances member interactions and ensures all dialogue is recorded.

client groups, such as later-life customers or limited companies.

HLPartnership's technological evolution is a testament to our commitment to constantly innovate and adapt in the mortgage sector.

We understand the dynamic needs of our

2. Deal End Dates Integration:

members and the market, ensuring that we

• Helps advisers identify mortgage deal end

remain at the forefront of industry advancement.

dates and when lenders contact clients.

• Allows for proactive client engagement, forecasting, data analysis, and enhancing consumer outcomes.

3. Referral System: • Designed for advisers to outsource specific

As we embark on this exciting new phase, our members can trust that we will deliver on our promises, continually enhancing their experience and broadening the horizons of what is possible.

We extend our gratitude to every member for their unwavering support, and together, we will shape the future of mortgage technology.

advice services like protection to specialists.

• Includes transparent tracking, real-time progress updates, and an intuitive interface for efficient management.

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Roadmap Q4 2023 Adviser Portal New User Interface Messaging System News & Communications Referral System

2024 Sales Process Pre/Post Sales Management Fact Find Integrations Lead Management

2024 Introducer Portal Lead Tracking Management Information

2024 Client Portal Mobile & Desktop Apps Open Banking Communication ID Verification Experian Integration

03 WHAT'S BEEN RELEASED Get the most from our recent technology releases, and how they can work for your business.

No more chasing or second-guessing, just efficient and punctual financial transactions.

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WHAT'S BEEN RELEASED

Review of Releases to Date Over the last 12 months, HLPartnership has released a series of updates to the Adviser Portal. Here’s a summary of the main releases.

Commission System Navigating the intricate world of mortgage

mechanism. By flagging essential actions,

strategy requires not just expertise, but also

it ensures that payments aren't just processed

the right technological toolkit to keep things

but are processed on time. No more chasing

streamlined. Enter HLPartnership's newest

or second-guessing, just efficient and punctual

offering, unveiled in mid-2022: a state-of-the-

financial transactions.

art online commission system designed with the modern adviser in mind.

Ease of use is at the heart of the platform.

Its intuitive interface ensures that even

More than just a statement viewer, this

the less tech-savvy advisers can delve into

platform is a comprehensive dashboard

their commission statements and payment

that gives advisers a panoramic view of

histories with minimal fuss. And in the

their financial landscape. Wondering about

dynamic world of mortgage strategy,

upcoming payments or mulling over past

real-time insights like these are worth

transactions? This system offers clarity

their weight in gold.

on both fronts, ensuring advisers are always in the loop about their income trajectories.

What sets this system apart in the crowded

The 'suspense account' feature allows advisers to keep tabs on pending payments and allocate funds for upcoming ones.

space of financial tools is its proactive alert

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WHAT'S BEEN RELEASED

These tools provide advisers with a comprehensive look into vital metrics of their business.

Management Dashboards & Reports HLPartnership has introduced a set of cutting-

mortgage applications and corresponding

edge Management Dashboards & Reporting

life or general insurance policies. With

tools. This move comes as a strategic push

these insights, advisers can identify

to empower advisers with enhanced

cross-selling opportunities and boost

insights into their own businesses and

their revenue streams.

drive performance to new heights.

• Adviser Performance:

According to inside sources, these tools

The performance dashboard provides

provide advisers with a comprehensive

a granular look into individual adviser

look into vital metrics of their business.

metrics, which can be a game-changer

Here are some highlights:

for businesses aiming to nurture and

• Submissions Data: With this data at their fingertips, advisers can now gain insights into the number and quality of submissions, allowing them to adjust strategies in real-time and optimise outcomes.

• Mortgage to Life Ratio & Mortgage to GI Ratio: These specific metrics help advisers comprehend the correlation between

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develop their advisers. Knowing where each adviser excels, or may need additional support, is crucial for both growth and client satisfaction.

• Insurance and GI Data: In today's fast-paced market, understanding insurance and general insurance trends is pivotal. This feature offers advisers a window into this data, helping them stay ahead of market shifts and anticipate client needs.

But why is this so critical?

In an era of data-driven decision-making,

can be thin and client expectations high,

these tools are more than just numbers

having real-time, actionable insights can

on a screen. They represent a paradigm

help advisers thrive.

shift in the way advisers understand and manage their businesses.

Moreover, as the industry becomes more regulated and client-centric, advisers need

By providing a holistic view of business

to demonstrate not only their knowledge

metrics, HLPartnership is essentially equipping

but also their adaptability and foresight.

advisers with a powerful telescope, allowing

Tools like the Management Dashboards

them to spot potential challenges and

& Reporting by HLPartnership offer advisers

opportunities long before they become critical.

the arsenal to not just navigate but excel

Furthermore, in the competitive landscape

in these evolving dynamics.

of mortgage and insurance, where margins

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20

WHAT'S BEEN RELEASED

Advisers can now seamlessly sign up for training sessions, workshops, and face-to-face events.

Training, Events & CPD Log Integration HLP has rolled out an innovative upgrade

importance of continued professional

to its portal. Aimed at fortifying the expertise

development, having an automated system

of advisers, the firm has integrated training,

that tracks and logs these hours can prove

events, and a CPD (Continued Professional

to be a significant asset for advisers. This

Development) log directly into the platform.

takes the guesswork out of CPD compliance

The newly introduced features offer a streamlined experience. Advisers can now

and allows advisers to focus on what they do best - advising clients.

seamlessly sign up for training sessions,

Encouraging Proactive Learning

workshops, and face-to-face events. What

By embedding these features within the

stands out, however, is the system’s intuitive

portal, HLPartnership is sending a clear

integration with the CPD log. Upon attending

message about the importance of constant

any HLP learning and development event,

learning and professional growth. This

the system automatically records an adviser's

proactive approach ensures that advisers

attendance, eliminating manual input and

affiliated with HLP are always at the

the potential for oversight.

pinnacle of their knowledge and skills.

But why is this integration important?

Future-Proofing Advisers

One-Stop-Shop for Learning The ease of signing up for workshops and events within the same portal where advisers manage other aspects of their business is invaluable. It not only saves time but ensures that advisers have a single consolidated platform for all their professional needs.

Effortless CPD Tracking With regulatory bodies emphasising the

In an industry that’s evolving rapidly, staying updated is not just an asset – it’s a necessity.

The integrated training and CPD tools ensure that HLP advisers are always ahead of the curve, equipped with the latest industry knowledge and best practices.

Through this update, HLP are making it easier than ever for advisers to maintain and enhance their competencies.

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WHAT'S BEEN RELEASED

Centralised News & Communications Always attuned to the needs of its members,

key message, network news, and event

HLPartnership has taken a pivotal step

notification at the fingertips of its advisers.

forward with the launch of its revamped Adviser Portal. Responding to feedback regarding the challenges of tracking emails and network communications, especially during peak times, the firm has introduced a centralised communications area. This dynamic feature promises to keep every

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The new communications hub is more than just a repository; it is an evolving archive that updates in real-time, ensuring advisers have access to the latest information from HLP's network.

Here’s why this move is garnering attention:

1. Unified Platform

2. Real-Time Archive

With a myriad of emails and

Not only does this hub update in real-

messages flooding inboxes daily,

time, ensuring the latest news is always

the risk of overlooking vital

front and centre, but it also offers

communications is all too real.

an archive. This means advisers can

The unified Communications

delve into historical communications

area addresses this by collating all

at any time, ensuring they are always

network news, events, and essential

in the loop.

communications in one easily accessible spot.

3. Eliminating Missed Opportunities

4. Efficiency and Accessibility

With all events now centralised, advisers

By streamlining communications, HLP

no longer run the risk of missing out on

is optimising efficiency. Advisers can

crucial seminars, webinars, or workshops.

now quickly scan, search, and access the

This feature ensures that they always

information they need without wading

have a finger on the pulse of HLP’s

through an overloaded inbox.

wide range of offerings.

In an industry where staying informed is paramount, the new Communications hub will help our advisers be well-informed and organised.

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Client & Product Views The Improved Client & Product View feature promises to streamline the way advisers access and manage client and product information.

The updates include:

1. Intuitive Client Search

2. Comprehensive Client Page

No longer will advisers need to navigate

The revamped client page now

through multiple pages to find client

consolidates client details, links to related

details. The new client search feature,

clients, and directs users to new product

conveniently located in the top

pages. This central hub ensures that

navigation bar, offers direct access

advisers have a holistic view of their

to essential client information. This

client’s profile and associated products

not only saves time but also improves

at a glance.

efficiency, allowing advisers to better serve their clients.

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3. Seamless Product Navigation

4. Enhanced User Experience

Delving deeper into the product offerings

By consolidating client and product views

just got simpler. With the new product

and minimising page transitions, HLP has

popup screens, advisers can effortlessly

significantly elevated the platform's user

browse through their client's products

experience. Advisers can now enjoy

and previous fact-finding data. This

a more intuitive and streamlined

feature reduces the need to hop between

workflow, allowing them to focus on

multiple pages, offering a more fluid and

what truly matters – advising and

cohesive browsing experience.

assisting their clients.

WHAT'S BEEN RELEASED

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04 WHAT'S UPCOMING Find out more about HLP’s comprehensive pipeline of future technology releases.

WHAT'S UPCOMING

What's Coming Next?

At HLPartnership, we believe in continuous evolution, always striving to improve the experience for our members. With the future in sight, here's what's next in the pipeline for our technology strategy.

Refining Member Engagement We've been listening. Your feedback on the challenges of email communication has been invaluable. We understand that critical messages can sometimes be missed or even redirected to spam.

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To remedy this, we're taking a two-pronged approach:

1. News & Communication Platform Embedded within the adviser portal, this feature will serve as a hub for essential communications - ranging from compliance updates and product news to member notifications. And, with a comprehensive archive, no information will be lost in the shuffle. Whether it's through text, images, or video, we're enhancing our communication methods to promote better engagement.

2. Messaging System Security is paramount. Our new messaging system will ensure secure, direct interactions within the network while maintaining a meticulous log of all conversations.

It's not just about sending messages but ensuring they are seen and acknowledged.

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It's not just about communication; it's about enabling success.

Deal End Dates It's not just about communication; it's about enabling success. Our upcoming 'deal end dates' feature in the portal will help to enhance productivity. By pinpointing both deal expiry and lender communication dates, we're setting the stage for proactive client management and maximised retention. Here's how:

Proactivity

Timeliness

Insights

Know when deals end, and

Avoid the pitfalls of pricier

Leverage data patterns

engage clients in advance.

SVRs post fixed-terms.

for resource allocation.

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Regulatory Compliance

Growth

Emphasise positive

Drive business expansion through

consumer outcomes.

quality advice and referrals.

WHAT'S UPCOMING

Referral System HLProtection has been successful. But we've noticed a need for clarity in the referral journey. Enter our new referral system. With transparent tracking, advisers will have a clear view into the client journey with HLProtection and other referral services It's not just about referrals; it's about understanding and managing them.

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WHAT'S UPCOMING

Looking Ahead The journey doesn't end here. We're gearing up for:

Referral Services Launch

Tailored Fact Finds

Further expanding our referral offerings

Custom solutions for distinct client

so you can enhance your business.

segments within later life and buy to let audiences.

Strategic Collaborations

Tech Innovations

Teaming up with industry leaders like

From dedicated client and introducer

Experian to leverage open banking and

portals and apps to a robust integrated

streamline ID verification.

system—our commitment to technology has never been stronger.

Our innovations don't stop here. We're committed to providing consistent updates to better serve our members.

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WHAT'S UPCOMING

Supporting You on our Technology Journey Investing in Personalised Tech Support for HLP Members HLP always put the needs of our members at the core of everything we do. As we roll out the next stage of our technology vision, you can be reliant that your Network is here to provide leading edge, personalised support to help your business transition to the exciting new changes happening in the months and years ahead.

As part of our continued investment, we

save time and promote efficiency, with great

are pleased to announce the appointment

emphasis on providing a good user experience.

of our new Tech Support Manager, Sajid Kadri.

However, we know that it’s not always easy

Many longer-time HLP members may

adapting to new technology and managing

be familiar with Sajid, having held senior

change, so this is where HLP will be on hand

technology positions at the Network for

to provide bespoke assistance with any queries

some years, and he will be using his skills

you may have along the journey.

and technological knowhow to provide bespoke assistance to our members in relation to the new technology being rolled out.

As Tech Support Manager, Sajid will be available to share system demonstrations, guidance and help trouble-shoot any challenges that may arise, and is ultimately here to help give the

We’re passionate about giving our members

support that our members deserve as we roll

technology to improve their day-to-day

out our exciting new technology updates

experience, simplifying processes and

in the future.

uniting many functions in a single place to

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We’re passionate about giving our members technology to improve their day-to-day experience

Keep an eye out in our future communications to find out more about how you can book an appointment with Sajid to assist with any Adviser Portal technology queries.

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05 PREVENTING CYBER CRIME We highlight the need for cybersecurity in an era where digital threats are ever-present.

PREVENTING CYBER CRIME

A Rise in Email Compromises: A Warning for HLPartnership Members In today's digital age, it's more crucial than ever for mortgage advice firms to maintain the highest level of security and trust with their clients. Recent reports indicate a growing concern within our community: a noticeable uptick in adviser email compromises. These security breaches have led to scammers sending fraudulent emails, masquerading as trusted advisers, to unsuspecting mortgage clients.

Such incidents not only endanger client assets and sensitive information but can also irreparably damage the reputation of your business. With this in mind, it's crucial to understand how you can mitigate these risks.

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Why the Surge?

The rise in these cyber-attacks is due to various factors:

1. High-Value Transactions

2. Data Collection

3. Digital Transformation

Mortgage transactions

Advisers handle sensitive

With the shift to online

involve large sums, making

personal data, which

communications and

them an attractive target

scammers can use for

transactions, there are more

for cybercriminals.

identity theft and other

entry points for attackers.

malicious activities.

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Mitigating the Risks Here are some proactive measures that members can employ to ensure the security of their digital communications:

1. Two-Factor

2. Regular

3. Secure

Authentication (2FA)

Password Changes

Email Platforms

Enable 2FA for email

Encourage all staff to

Consider migrating to email

accounts. This provides

change passwords regularly

platforms that offer advanced

an extra layer of security

and avoid using easily

security features such as end-

beyond just a password.

guessable passwords

to-end encryption.

Even if scammers get hold

or repeating passwords

of your password, they

across multiple platforms.

won't be able to access the account without the second verification method.

4. Employee Training

5. Regular Backups

6. Client Awareness

Periodically train your

Always have a backup of your

Inform your clients about

staff on the importance

important emails and data.

the possibility of scam emails.

of cybersecurity. Make them

In case of any compromise,

Ask them to always double-

aware of the common

you can restore from a

check with you via phone

phishing tactics scammers

previous backup without

or another communication

use and how to recognize

losing valuable information.

method if they receive any

suspicious emails.

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unusual requests.

PREVENTING CYBER CRIME

7. Regular

8. Use SSL

9. Cybersecurity

System Updates

Certificates

Experts

Ensure that all software,

If you communicate with

If possible, engage with

especially your email client

clients through a portal or

cybersecurity firms to

and security software, is

website, ensure it's secured

regularly audit and assess

updated regularly. Many

with an SSL certificate,

the security measures

updates include patches

which encrypts data transfer

of your digital infrastructure.

for known vulnerabilities.

between the user's browser and the website.

In Conclusion The digital landscape is evolving, and while it offers unparalleled convenience and efficiency, it also brings new challenges. Together, by taking the right precautions and staying informed, we can combat the threat of cyber-attacks and continue to uphold the standards of excellence that define our community.

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PREVENTING CYBER CRIME

Protecting Against Cybercrime Running a mortgage & protection advice firm in 2023 covers many areas.

It's not just about providing great mortgage advice or protecting customers.

Cybercrime has become a pressing concern. Every online interaction, database, and client detail is at risk. Today's adviser must prioritise not only their clients' financial well-being but also the protection of their sensitive data. This article delves into the crucial need for cybersecurity in an era where digital threats are ever-present.

Document sharing Here are some proactive measures that members can employ to ensure the security of their digital communications:

Use shared drives / SharePoint where possible

Use encryption / passwords when dealing with sensitive documents

Avoid printing unless absolutely necessary

Stay Safe As Your Firm Grows Your business will change over time, as the firm grows, as new people join and as technology advances, the requirement for protecting against cybercrime will grow ever more important.

One great resource designed to help you is the National Cyber Security Centre, who’ve put together a wide range of support on their website to help you consider all these issues and more, as your firm grows. Find practical advice and resources on what you can do, the steps you can take, and vital guidance on what to think about should the worst happen.

Visit: www.ncsc.gov.uk

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Common features of phishing emails

Too good to be true

Sense of urgency

Hyperlinks

Lucrative offers and eye-

A favourite tactic amongst

Hovering over a link shows

catching or attention-

cybercriminals is to ask

you the actual URL where

grabbing statements are

you to act fast because the

you will be directed upon

designed to attract people's

super deals are only for

clicking on it.

attention immediately

a limited time.

Attachments

Unusual sender

If you see an attachment in an email

Check the spelling of the sender's email

you weren't expecting or that doesn't

address e.g. xxx@hlpartnership.co.uk

make sense, don't open it!

compared to xxx@hlparntership.co.uk

To

Were you copied in on an email sent to

Did you receive an email that was also

one or more people, but don't personally

sent to an unusual mix of people? For

know the other people it was sent to?

instance, it might be sent to a random group of people at the organisation whose last names start with the same letter, or a whole list of unrelated addresses