Advice Intelligence launches new world financial planning technology
Advice Intelligence (a.i.) has launched Version 1.0 of it’s software platform to financial advisers across Australia. This launch marks the start of a ‘new world’ financial planning movement that will be crucial for the future success of the advice industry.
The new technology enables advisers and their clients to co-create the advice journey together. The platform is informed by the financial goals, needs, concerns and behavioural habits of the client. Additionally, the software delivers efficiency and compliance benefits for advisers as they face a dramatically changing regulatory landscape.
Commenting on the launch, a.i. Founder and Chief Executive Jacqui Henderson said the software aimed to transform the advice experience by guiding advisers in the transition from an ‘old world’ to a ‘new world’ model of advice.
“Globally, regulators are working to ensure clients receive quality financial advice. The existing compliance and technology elements of the financial advice chain are inefficient and ineffective. Until now, this has adversely affected the value and in some cases, the consistency of advice delivered to consumers.” Henderson said.
“a.i.’s software will enable advisers to increase their ability to scale, meet prospective clients and satisfy best interest guidelines. It will help advisers to nurture customer relationships and ultimately lower the advisers’ costs in delivering quality, goals-based financial advice.”
The software tracks client goals, cashflow and insurance with each client receiving an instantly -produced, online statement of advice. Paraplanning is removed from the advice process. With the release of Version 1.0, investment and super advice modules will follow in the near future.
a.i.’s “WealthMap” feature provides advisers and their clients with a shared space to co-create advice in an interactive way. This will free advisers to test future scenarios and simulate combinations of advice strategies.
Clients can also track their personal financial plan through their own “WealthApp”.
“This client-facing experience enables advisers to actively demonstrate to clients that their individual goals are at the heart of the advice process. By refocusing the outcome on client goals rather than financial products, any friction that exists is removed.” Henderson said.
“Our aim is to empower financial planners with the software of the future and support the industry in its’ transition to an efficient, respected profession.”