Capstone enhances financial advice platform


Financial planning licensee Capstone has announced further enhancements to its XPLAN advice technology platform.
The company last week announced enhancements specifically aimed at helping planners surmount the regulatory environment evolving from the Future of Financial Advice (FOFA) changes.
Announcing the practice-specific enhancements, Capstone managing director Grant O'Riley said the company had spent the past 12 to 18 months developing and exploring options to enhance technology delivery in line with the company's recently developed client engagement model.
He said the result had been the development of a customised set of wizards including Statement of Advice and Record of Advice templates - effectively providing a 'pre-delivered' set of templates, documents and procedures.
O'Riley said practices could use the existing templates or use the documents as a guide, then personalise and have them coded specifically to their business.
He said the group placed a premium on accurate reporting, and all data feeds were monitored daily.
"Quite rightly, our practices expect accurate portfolio balances and as their licensee it's our job to deliver, therefore the buck lies with us," O'Riley said.
"Capstone has consistently achieved above 95 per cent accuracy over the past six months."
Recommended for you
A financial advice firm has been penalised $11 million in the Federal Court for providing ‘cookie cutter advice’ to its clients and breaching conflicted remuneration rules.
Insignia Financial has experienced total quarterly net outflows of $1.8 billion as a result of client rebalancing, while its multi-asset flows halved from the prior quarter.
Prime Financial is looking to shed its “sleeping giant” reputation with larger M&A transactions going forward, having agreed to acquire research firm Lincoln Indicators.
An affiliate of Pinnacle Investment Management has expanded its reach with a London office as the fund manager seeks to grow its overseas distribution into the UK and Europe.