Newcomer to planner software space
Another desktop advisory software provider has entered the financial planning arena after signing a contract with a mid-sized, Sydney-based independent dealer group to help it produce compliant disclosure documents.
The Salisbury Group, which has 45 financial planners, announced today it had signed a contract with software development company DPM Consulting to use its Intelledox document creation program.
Much like statement of advice (SOA) building functions in Xplan and Coin, the DPM product is web enabled. But unlike other advisory software products it does not contain product research.
“It’s going to play a big part in the construction of advice,” Salisbury Group managing director Mark Euvrard said.
“But more specifically we’re talking about a system that works for some of the smaller groups of advisers within our group who are doing similar things.
“It will make it easier for them to share templates for SOAs and financial services guides, and control compliance with financial services reform.”
DPM consulting said the program would be complementary to existing advisory software products, and allow financial planners to build interview functions with clients to lead them through the construction of complex SOAs.
A spokesperson for DPM said it was currently conducting pilots with additional ‘blue chip’ financial planning firms, but could not yet release details.
Recommended for you
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
Having sold Madison to Infocus earlier this year, Clime has now set up a new financial advice licensee with eight advisers.
With licensees such as Insignia looking to AI for advice efficiencies, they are being urged to write clear AI policies as soon as possible to prevent a “Wild West” of providers being used by their practices.
Iress has revealed the number of clients per adviser that top advice firms serve, as well as how many client meetings they conduct each week.
