Since the relaunch of the CARM Guided Planning System (GPS) as a free trial in October last year, there are now more than 250 financial advisers registered with the financial planning solution, according to DomaCom chief executive Arthur Naoumidis.
The model for the GPS platform is based on generating advertising from fund managers and other industry service providers rather than charging advisers a fee. If the trial is successful, the software will move to a free registration model, Naoumidis said.
"Advertising is quite discreet and doesn't appear on every screen, with many users saying it does not detract from their discussions with clients when they use it in meeting situations," he said.
"If advertising levels are sufficient we will look at further software development to give it a higher value to advisers."
DomaCom is currently working on updating its statement of advice functionality and is set to release its new equity release products - Protective Equity Access - later in the year.