MyProsperity product gains momentum
The technology platform developed by former financial adviser, Peter McCarthy, myprosperity.com.au appears to be developing some further market momentum, having been picked up by a number of accounting groups.
McCarthy cited Spring Financial Group, PKF and Nexia as having picked up on the technology platform which allows clients to access real time information on their cash accounts, car, properties, shares and superannuation.
Speaking to Money Management last week, McCarthy said the platform was continuing to receive a positive response from accounting and advisory groups because of its time-saving capabilities because it allowed real-time access to data feeds from RPdata, Redbook, Yodlee and the Australian Securities Exchange (ASX) — something which allowed for uncovering opportunities from existing and potential clients.
The company is providing accounting firm clients with the ability to white label the platform.
Recommended for you
As the first quarter of 2024 comes to a close, Money Management looks back on the corporate regulator’s bans and AFSL cancellations in the financial advice sector.
Insignia Financial is holding ‘relatively steady’ onto its rank as Australia’s second-largest financial advice licensee after the Godfrey Pembroke exit but Count is hot on its heels.
Liberal senator Slade Brockman has said the government needs to have a “cold hard look” at the level of regulation in the financial advice space and the costs of running a business.
FAAA chief executive, Sarah Abood, has warned changes in the first tranche of the QAR legislation around advice fees documentation could create more work for advisers rather than less.