Financial planners will still remain a necessary part of equities research as clients will continue to require guidance on risk and market exposure according to an online research provider.
Roger Montgomery, non-executive chair of direct equities research provider Skaffold, said planners were still a necessary part of the research process as many investors were unaware of appropriate levels of risk and how exposed they should be to any stock within the market.
Montgomery said the direct equities research did not remove planners or advice from the investment process but created a platform for discussion. He said tools like Skaffold would enhance the reputation of financial planners and would allow them to remain relevant in the coming age of digital advice.
Montgomery was speaking at the launch of Skaffold's updated cloud based research tools which link to approved product lists from planning groups and indicated the group would continue its push into the financial planning space.
The revamped research offering — named New Digital Skaffold — will also be able to receive data feeds from the portfolios of clients conducting their own share trades, such as those with a self-managed superannuation fund.
Skaffold chief executive Peter Simpson said the move into the planning space follows a successful rollout of the software over the past three years into the consumer sector and the group wanted to ensure it could offer the capabilities required for planners before moving into the financial advice sector.
The group currently offer integration with financial planning software and would begin to offer education modules which would be overseen by Skaffold general manager Chris Batchelor, who spent nine years with industry education provider Kaplan prior to starting with Skaffold.
The launch of the updated equities research tools follows the recent appointment of former Asgard state manager Trevor Clisby to the role of head of wholesale markets. Clisby has been tasked with expanding the reach of Skaffold into the financial advice sector including financial planners as well as superannuation funds who offer direct equities options to members.
