Financial planning software provider FinCalc has partnered with Time4Advice to develop an integrated digital fact-finding solution for its firms.
As part of the integration, advisers using Curo, created by Time4Advice, will be able to use FinCalc tools for onboarding and creating financial plans while removing the hassle of extensive data entry.
The solution removes the re-keying of data meaning the end customer can enter information directly via a secure and branded web interface.
This information can then be reviewed by the adviser and pushed directly into Curo.
According to FinCalc, it will also provide a range of financial planning tools to firms including cashflow modelling, retirement planning, inheritance tax planning and a suite of financial calculators.
Jason Wykes, chief executive of FinCalc, said: “Strengthening our partnership with Time4Advice through our digital fact find solution was the logical next step and we couldn't be more enthusiastic about it.
“Through our core FinCalc system and bespoke development for Time4Advice, we've ensured that our two systems communicate seamlessly with each other. This not only saves valuable time but also ensures a seamless client journey from start to finish.”
Rolan Rawicz-Szczerbo, founder of Time4Advice, said the partnership has allowed the firm to take a “major step forward”.
“One of the core challenges facing advice firms today is how to maximise the efficiency with which critical work can be done. Traditional back-office systems cannot deliver this in any meaningful way, resulting in firms sometimes taking hours in the production of client review reports for example.
“By building a comprehensive, two-way integration with FinCalc, we have together taken a major step forward in helping firms develop a coherent technology ecosystem on which to build a more consumer duty friendly, data driven business.
“With fee compression taking hold, delivering business efficiencies is no longer a nice to have but key to the very survival of all financial advice firms. By working collaboratively with our strategic partners, Time4Advice aims to help create the environment that our industry needs to face the future with confidence.”
Last month (May 21), FinCalc also partnered with Saltus to bolster its technology toolkit.
The partnership aimed to help Saltus advisers become more efficient throughout the client review process with a “unified solution” to minimise extensive data entry.
alina.khan@ft.com
