Slow innovation forces hand: Bristow
A claimed lack of options and innovation in the planning software market has forced Infocus Wealth Management to come up with its own managed accounts solution.
Infocus managing director, Rod Bristow said the firm's Platformplus software will be integrated on the Praemium SMA (separately managed accounts) platform, in an extension of the partnership between the two companies.
The agreement will enable Infocus and PATRON advisers to generate application forms and invest clients into the Infocus Managed Accounts product from within their planning software.
"The Australian financial planning software sector has been dominated by a small number of players," Bristow said.
"As a result, innovation has been slow, which is why we built our own software. Integrating Platformplus with the Infocus Wealth Accounts platform is a logical step for Infocus, as it will enable straight-through processing, from the ‘fact find' all the way through to opening and investing the client's managed account portfolio."
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