Cashflow planning software provider CashCalc has teamed up with investment platform Hubwise to develop a two-way integration designed to help advice firms become more efficient.
The integration will reduce the need for advisers to manually re-key information which can cause inefficiencies within the financial advice process.
The duo said the integration was part of a “shared ambition” to help advisers improve their processes.
Ray Adams, director, CashCalc (pictured), said: “The soon to be developed integration with Hubwise is another step towards ensuring our users have access to all the great tools they wish to use within their financial planning process.
“It is another ‘exit off the CashCalc roundabout’ which not only helps advisers minimise the need to re-key information and improve efficiencies, but enables them to adopt a best of breed approach regarding which software provider they wish to use during their clients’ financial planning journey. The more ‘exits’ we build, the more choice our users have, and we are excited to partner with Hubwise and build a smooth exit of information to and from them.”
Angus Macdonald, chief executive officer, Hubwise, said that the practice of re-keying client data is “all too commonplace and places a significant and unnecessary constraint” on investment firms.
Macdonald added: “Hubwise and CashCalc share the same vision to use our own technology as an enabler, and through our real-time and bi-directional integration, to continue making life simpler for our customers.”