Dynamic Planner is on track to deliver its multi-million pound Elements upgrade programme, aimed at providing firms with their complete financial planning needs in one system.
It will mean firms no longer need to re-key data between multiple planning tools and run the risk of miscalibration between them, the risk profiling company said.
The new version will include risk profiling and reviews, whole of market product, platform and DFM research, alongside independent investment research and an upgraded cash flow module.
Ben Goss, CEO, Dynamic Planner, said: “The first major deliverable, our MiFID II compliant client review process has been fantastically well received and is being used by firms across the industry to generate thousands of reviews each month. These reviews now include portfolio performance analysis against the MSCI Dynamic Planner risk-based, regulated benchmarks.
“Firms no longer want to re-key data from one financial planning tool to another with all the time and risk of miscalibration this brings. We are investing in our service to ensure firms no longer have to and can access financial planning technology with a single definition of risk at its heart.”
Dynamic Planner will also launch a new easy-to-use cash flow module later this year. The risk-based module will include enhancements to the existing model, enabling firms to “robustly address suitability” and the particular risks around investments in decumulation, the company said.
In addition, independent PROD-based product, platform and DFM research that is currently in development is set to launch this year.
Firms are already able to complete whole of market investment research for both accumulation and decumulation and to manage panels, centralised propositions and portfolios. However, the new research capability will enable firms to review product feature and charge suitability alongside the suitability of underlying investments in a single system. It will support whole of market advisers as well as restricted firms, Dynamic Planner said.