Avanteos founder launches software package
By John Wilkinson
FormerAvanteosfounder and director Mike Polkinghorne has returned to the financial services market with the launch of a software package designed for financial planning clients to assist them in managing their personal finances.
Polkinghorne has teamed up with ex-Navigator staffer Stephen Trist to create Manage Your Finances (MYF). Polkinghorne has a long history in the financial planning software business, having been involved with FPI,Navigatorand Avanteos while Trist had a number of senior roles at Navigator.
MYF has been presenting the software, which costs just under $200, to dealer groups and is offering bulk deals to advisers but says the reactions have been mixed with some not seeing a need for such software, while others are giving copies to selected clients.
The program looks after all personal finance areas such as investments, bank accounts, credit cards and insurances as well as recording personal information.
The software takes feeds from bank accounts, managed funds, stocks and the consumer can export any of the data to their financial planner or accountant.
Trist says the program is designed to stop clients storing all their financial information in a shoebox to give to their accountant or planner to sort out.
“It is about getting all the information together so that the individual can improve their financial management with less hassle, less stress and with better control and direction,” Polkinghorne says.
Recommended for you
With the adviser education pathway deadline less than three months away, Padua Wealth Data is predicting a “very unstable last quarter” after three months of solid net growth and new entrants.
ASIC has banned the former CEO of Lighthouse Partners from providing financial services for 10 years after failing to report fees-for-no-service conduct, the second individual banning from this firm.
The corporate regulator enacted a 50 per cent increase in the number of investigations and a 20 per cent increase in civil enforcement proceedings.
Wealth management platform Netwealth has reported record quarterly net flows to managed accounts and is set to launch Netwealth Private for select advice groups this quarter.
