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Michael Sill
Michael Sill, Mentor Education

New Software To Help Financial Planning Efficiency

2 July 2015
Jacqui Henderson Diirector of Adviser Intelligence financial planning software
Jacqui Henderson
Director of Adviser Intelligence

Australian financial planning software provider Adviser Intelligence will launch new software in a bid to help with planner efficiency.

The new software will be a much appreciated addition to any financial planning firm as it claims to help planners become up to four times more efficient. It is also a timely release, as it coincides with ASIC’s June 30 opt-in requirements. After June 30 ASIC will begin enforcing the opt-in provisions for the financial planning sector for all clients, not just new clients; which invariable means more paperwork.

As a as a former practice manager and co-founder of planning business Henderson Maxwell, Jacqui Henderson, director of Adviser Intelligence is familiar with the administrative and compliance challenges facing financial planners, and believes that, “they have been under-served in the level of technology support they receive.”

Henderson says of the release that their intention “has always been to create efficiencies within planning practices…with the administration and all the compliance reforms coming in, the administration gap is widening, there’s a lot more that advisers have to do.”

Henderson says that the software will reduce the insurance statement of advice from four hours to one by, “taking out all the components that are inefficient, such as the multiple data entry that’s involved.”

Adviser Intelligence will launch the first of its three major modules next week. The first module will be the FOFA module, which Henderson says, “automates a number of processes that are currently done manually, including automating fee disclosure requirements.” Henderson believes the FOFA module alone will solve a lot of problems for the industry and says that, “it enables you to develop service packages, add in all your fees and then produce statements for clients.”

Following the release of the FOFA module, Adviser Intelligence will then release insurance and investment components.

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