Newcomer to planner software space
Another desktop advisory software provider has entered the financial planning arena after signing a contract with a mid-sized, Sydney-based independent dealer group to help it produce compliant disclosure documents.
The Salisbury Group, which has 45 financial planners, announced today it had signed a contract with software development company DPM Consulting to use its Intelledox document creation program.
Much like statement of advice (SOA) building functions in Xplan and Coin, the DPM product is web enabled. But unlike other advisory software products it does not contain product research.
“It’s going to play a big part in the construction of advice,” Salisbury Group managing director Mark Euvrard said.
“But more specifically we’re talking about a system that works for some of the smaller groups of advisers within our group who are doing similar things.
“It will make it easier for them to share templates for SOAs and financial services guides, and control compliance with financial services reform.”
DPM consulting said the program would be complementary to existing advisory software products, and allow financial planners to build interview functions with clients to lead them through the construction of complex SOAs.
A spokesperson for DPM said it was currently conducting pilots with additional ‘blue chip’ financial planning firms, but could not yet release details.
Recommended for you
As advisers risk losing two-thirds of FUA during the $3.5 trillion wealth transfer, two co-founders underscore why fostering trust with the next generation is vital to retaining intergenerational wealth.
As advisers seek greater insights into FSCP determinations, what are the various options considered by the panel and can a decision be appealed?
Amid the current financial adviser shortage, advice firm Link Wealth is looking to expand its financial literacy program for high school students across the country.
TAL Risk Academy has updated its range of ethics courses to help financial advisers meet their CPD requirements following adviser feedback, including interpreting FSCP determinations.
