Penfold launches new portal for business advisers

The portal and accompanying service is designed to streamline and simplify the process of managing pension schemes on behalf of SMEs. The first 1,000 advisers to sign up will be able to use the portal free of charge.

Penfold has also recruited a specialist team to launch the portal and service. Steve Ayers, who previously led Private Banking at Lloyds Banking group before supporting the launch of Smart Pension, is joined by Terry Kemp, previously at Creative Benefits and Smart Pension and Michael Groves, previously at Smart Pension and Cushon.

The new portal automates time-consuming processes to enable fast, easy, and accurate payroll and pension processing, with a particular focus on driving efficiencies associated with salary sacrifice, managing opt-outs, postponement periods, and dealing with employee queries about the scheme.

Users will also benefit from a concierge service from the Penfold customer support team.

Steve Ayers, head of business development at Penfold, commented: "I am thrilled to join the Penfold team and work towards our shared goal of driving efficiency gains across the broader financial services. Financial services professionals have been frustrated at the sector’s slow adoption of tech for many years now, but we’ve listened, learnt, and built with these in mind. We’re confident that Penfold’s new portal and service will bring the developments that professionals want to see, benefitting all parties."

Pete Hykin, co-CEO and co-founder at Penfold, added: "We see the launch of our adviser portal as closing the loop on effective auto-enrolment implementation and management for forward-thinking workplaces. Through Penfold, business advisers, employers, and employees will all benefit from our purpose-built pension tech that pulls pensions out of the dark ages and into the modern world of work."