Software provider Defaqto has streamlined its Defaqto Engage software to offer a financial planning journey in a “single comprehensive” package.
The firm said the move will enable advisers to increase efficiency, improve compliance and drive revenue.
Defaqto Engage now incorporates end-to-end financial planning; cash flow planning; risk profiling; detailed research for funds and products; protection research; ratings and reviews; pension, platform and product switching, as well as suitability report production and back office/CRM integrations.
The new package will add simplicity, minimise errors and reduce costs associated with multiple systems and staff training for advisers, Defaqto said.
John Milliken, CEO of Defaqto, said: “We know that running an IFA business is becoming increasingly challenging. The amount of regulation is increasing, there are macroeconomic headwinds and the cost of doing business is going up.
“Having the right technology can help retain customers, increase Assets Under Advice and introduce new revenue streams. We’ve invested in our suite of tools so advisers can access everything they need for their entire financial planning process, from risk profiling and cashflow modelling to pension, product, and platform switching, all in one place. No add-ons, no extra costs, it’s all here in one package.”
The launch is one of a number of developments that Defaqto will be introducing this year, with enhancements to the user experience and user interface of Defaqto Engage already in progress.
