FTS to develop adviser support tools
Strategy firm Financial and Technical Solutions (FTS) has been signed up by financial planning compliance system, Keys, to provide technical advice in developing specific calculators and support tools for the product.
FTS managing director Tony Negline says his group will hopefully develop tools to assist advisers in coping with the various compliance and regulatory pressures they face.
“With FSR pressure, product margin pressure, higher costs and planner uncertainty, distribution models will soon need to revisit existing disciplines. Many industry people are aware of today’s planning practice challenges, issues and problems. Most have come up with some portion of the puzzle and unfortunately they seem to be take a cobble approach,” Negline says.
Keys is an integrated financial planning, client service and business management tool and is owned by Solutions Personal and Business. It was designed to help planners cope with the compliance levels surrounding the Financial Services Reform legislation.
“The system allows a financial planning business to operate more effectively and efficiently through the intelligent use of innovative communications and information technology which is widely in use in the marketplace,” Solutions Personal and Business executive Maurice Terreiro says.
Terreiro adds one of the main tasks will be how to lower adviser’s initial and ongoing client costs and thereby increasing profitability despite the continual pressure being placed on product and trail margins.
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