Asteron Life has updated its automated accounting package for life advisers, to include fee-for-service models.

The “adviser service fee” facility will enable automated collection for advice fees charged to clients.

Once the client has authorised payment of the fee, this can be handled by Asteron, together with collection of premiums.

The facility can be used at the initial advice stage and at the point of renewal.

Asteron Life Head of Intermediated Advice Mark Vilo says fee collection can be used with any commission model.

“It’s important to be looking at forward-thinking ways to provide advisers with choice, flexibility and control when it comes to helping them manage their business and client relationships,” he said.

“We recognise a move for some to fee-for-service may take some adjustment. However, we’re continually developing our services in relation to our products, so we can offer choice to clients and advisers.”