CARM signs with InvestmentLink
TheCARM group has struck a deal to integrate its goals-based financial planning software with hub provider InvestmentLink’s e-Portfolio service, to provide a new compliance, implementation and review system for planners.
The Guided Planning System (GPS) software of CARM, short for Customer Acquisition and Retention Management, will tie into the e-Portfolio service providing GPS with access to data feeds creating straight-through-processing capabilities for transactions and client reviews.
CARM managing director Matthew Lock says the GPS system is based on tracking the performance of a client’s financial plan against budgeted performance.
Lock says to do this CARM needs to track asset values of a portfolio to see if they are ahead or behind at any point and the deal with InvestmentLink supplies a single hub interface, rather than dealing with individual product providers.
The GPS software, with InvestmentLink’s data feeds, will be available to the market in September and Lock says CARM is in discussions with a number of dealer groups that are interested in the system.
Within the next 12 months, CARM aims to sign up 1,000 advisers to use the GPS system.
Lock says that the relationship with InvestmentLink is not exclusive, and though this is the first and primary relationship it has, CARM will integrate with platforms in the market over time.
InvestmentLink chief executive Peter Philip says the integration of GPS and its reporting platform will complement planning software in the market.
Recommended for you
A relevant provider has received a written direction from the Financial Services and Credit Panel after a superannuation rollover resulted in tax bill of over $200,000 for a client.
Estimates for the calendar year 2024 put the advice industry on track for a loss in adviser numbers as exits offset gains from new entrants.
Adviser Ratings shares five ways that financial advice changed in 2024 with an optimistic outlook for 2025, thanks to the Delivering Better Financial Outcomes legislation.
National advice firm Invest Blue has announced several acquisitions, including the purchase of an estate planning and wealth protection business Lambert Group.
