Prestwood Software has linked with Parmenion and Skandia to provide increased efficiency for customers.

The link is one of a series of changes the firm is making since the announcement of Ritchie Walton as managing director this year.

The link will replace manual updates so that client accounts are accurate with current valuations, meaning Financial Planners and their support team have more time to spend with clients.

David Tanner, head of operations at Parmenion, said: “We look forward to the operational benefits that connectivity to Prestwood’s leading automated valuations service will bring to our advisers.”

Anthony Scammell, head of customer experience at Skandia, said: “Access to timely, up to date information about a customer’s investment is an essential part of any Financial Planning service.

“By linking with Prestwood’s software we are helping advisers ensure they always have access to the data they need to meet the Financial Planning needs of their Skandia customers.”

Prestwood has also developed a new tool to test clients’ capacity for loss and demonstrate ‘market falls’ and will also be launching a web-based version of Prestwood Professional and Prestwood Truth software. It will also launch a series of business mentoring and masterclass workshops.

Ritchie Walton, managing director of Prestwood Software, said: “Financial Planners turn to Prestwood for our deep understanding of the profession. By building relevant links with other market-leading firms, Financial Planners no longer have to compromise with ‘one size fits all’ technology but can access ‘best of breed’ solutions to offer comprehensive, lifelong cash-flow modelling as part of their Financial Planning service to their clients.”