iFactFind upgrades to facilitate scoped advice

Financial planning technology start-up, iFactFind, has upgraded its digital fact-find solution, adding a mini fact-find and functionality to support efficiency and the delivery of scoped advice.

The latest release included a mini fact-find or pre-meeting questionnaire, designed to gather only the information essential for an adviser to commence basic analysis and modelling, ahead of an initial client meeting.

With iFactFind’s new settings functionality, advisers could configure a fact-find to meet a client’s specific needs, for example, risk-only advice or aged care planning. Practices could then template these settings for even more efficiency.

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According to Paul Moran, founder and chief executive of iFactFind, the enhancements targeted the most common client and adviser pain points.

“Getting a new or potential client to complete a comprehensive fact find that asks for intimate details of their life is difficult because trust hasn’t been established and, in some cases, they haven’t even met their adviser face-to-face yet,” he said.

“Using iFactFind’s fully enhanced mini fact-find minimises the risk of the advice process stalling before it has even begun. It aims to gather only the information required for an adviser to start basic modelling so that the initial client meeting is meaningful and effective.”

Moran said standardising data records would significantly improve efficiencies and reduce costs in practices.

“It would make it easier for technology solutions to speak to each other.”

 




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