CARM unveils investor modelling system
Financial planning business management group Customer Acquisition and Retention Management (CARM) formally launched its web-based Guided Planning System (GPS) today.
GPS — a compliance, implementation and review system for planners — was spawned out of CARM striking a deal with hub provider InvestmentLink, to integrate its goals-based financial planning software with the latter’s e-Portfolio service and was initially reported inMoney Managementin early September.
According to CARM director Paul Resnik, the fledgling system has the capacity to revolutionise financial modelling and planning.
“The software captures all data relevant to a client's current and future position and forecasts their cash flow and balance sheet for the rest of their lives, taking into account all the major tax, superannuation and social security issues,” he says.
CARM managing director Matthew Lock adds that “GPS also applies all the major tax treatments to each component of an investor's plan whether it be direct investments, unit trusts, superannuation funds, allocated pensions or investment bonds”.
Resnik details how the system is able to calculate whether the client will have enough money to see him/her through retirement. If not, he says the model prompts the planner and the client to change the plan, for example by saving more, spending less, working longer or taking more investment risk in order to eliminate the forecast shortfall.
The group also claims GPS serves as a compliance platform for securities dealers.
Recommended for you
Insignia Financial has issued a statement to the ASX regarding a potential bid from a third global private equity business to acquire the firm.
More than 30 advisers fell off the FAR during the Christmas and New Year period, according to Wealth Data, with half of these coming from licensee giant Entireti.
With next-generation heirs unlikely to retain their family’s financial advisers after receiving an inheritance, Capgemini has explored how firms can work with younger generations to maintain a relationship.
The use of technology and data analytics will be a way for advice firms to grow in 2025, according to Adviser Ratings, with those who are using it successfully reporting 10 per cent higher profit margins.
