O&M Systems ‘Smart Paste’ tool launched to help find and move fund data
19 February 2018
O&M Systems managing director Graham Miller explains how the firm is making it easier for paraplanners to find fund data and move it between systems.
Fund selection was easy when O&M started producing software, as pensions were either invested in Managed or With Profits. Shortly afterwards, we thought we’d reached the height of sophistication by introducing ways of changing default funds. Fast forward to 2018 and you’ll find over 70,000 funds in our ESP software. Did I say find?
With so many funds, the best way to locate your chosen one is via its ISIN code, as its quick and accurate. However, if you have maybe 15 funds in a portfolio, even this can be tiresome.
Smart Paste, is our latest trick in fund finding and means when you have a portfolio in this format in a spreadsheet:
It can turn it into this selection in O&M Profiler (click image to enlarge):
So, if your Centralised Investment Proposition, Model Portfolios or DFM Portfolios are stored in a spreadsheet, Smart Paste can convert it for you.
Is that as Smart as it gets?
Smart Paste works by recognising key words and phrases on documents, so once it knows what to look for, it can move large amounts of data from one system to another.
It’s still early days but a client recently used Smart Paste to take the key data from a 20+ page electronic fact-find into the system. For this adviser firm, the cost of providing cash flow modelling has been reduced to a point that every client will be receiving cash flow models at their annual review, rather than just the wealthy few. With the FCA mentioning cash flow in their rules this year, this could be good timing.
You can take a look at Smart Paste in action in the Youtube video below.
Please note: This link takes you to a third party website over which Professional Paraplanner has no control of any material.
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