DomaCom piques planners' interest

Since launching the solution in June, DomaCom has received more than 140 applications from financial planners and accountants wanting to trial its lifestyle road mapping tool.

The DomaCom Guided Planning System (GPS) - a rebranded version of the CARM GPS - provides users with a full fact find and file note process as well as cashflow projection modules, the company stated.

According to DomaCom chief executive Arthur Naoumidis, the software could potentially save planners thousands of dollars and the company will officially launch the GPS in October when the current three-month trial period ends.

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"Many planners have told us they use spreadsheets for preparing cashflow projections because their current planning tools either don't do it or are not very good," he said.

The software will be available free of charge, both during the trial and after the launch, as the company has decided to fund it from Internet advertising revenue, DomaCom stated.

At the time the planning software was acquired from CARM Pty Ltd in a liquidation sale earlier this year, Naoumidis said DomaCom was in a position to use its "capital to deploy the GPS with a very different funding model than that available in other financial planning software".

In addition to the launch announcement, DomaCom has appointed CARM GPS founder Matthew Lock to oversee the program by ensuring quality control and ongoing maintenance of the software.

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