Fiducian Financial Serviceswill soon launch a financial planning software package, FORCeFP, which will write financial plans meeting all Financial Services Reform Act (FSRA) requirements.
The product has been developed after input from financial planners and includes customer relationship management (CRM) tools but Fiducian IT manager Alan Dunne says planners can focus solely on the plan writing part of the package.
“Feedback from financial planners told us that most software programs were too complicated, attempted to do too many things and were cumbersome to use,” Dunne says.
Fiducian will provide full support of FORCeFP including installation, training and daily market prices, and will also be able to tailor software for dealer groups.
The group is also currently restructuring its wealth management team to fully leverage its core business strengths through initiatives such as the launch of FORCeFP, where Fiducian will compete on the open market rather than just providing services to its proprietary dealer network.
Head of wealth management Paul Barrett says, “We have aligned our business into what we are calling the four pillars – financial planning, funds management, IT/software, and wrap administration.”
Under the restructure, a national franchise manager and practice manager have been appointed to the wealth management team, to both grow proprietary distribution and to make the practices as productive as possible.
On the funds management side of the business, educating the industry about Fiducian’s consistently good investment performance is another priority to promote the company’s growth, according to Barrett.
“One of our first jobs in wealth management is to ensure the marketplace is aware of the advantages of our ‘manage the manager’ investment style and most importantly, what Fiducian is doing to help financial advisers build their businesses.”
