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SimplyBiz launches new financial planning system

24 January 2018

SimplyBiz has launched an end-to-end financial planning system, which will bring all its existing planning tools into one integrated system.

The new system, Centra, which aims to provide a “one stop shop” for advisers supporting every step of the advice process, will be free to SimplyBiz members via a staged roll-out.

The system has been in development for over a year and offers members access to goals-based financial planning tools, product research, pre-populated suitability reports and a centralised investment process.

Its development was in response to feedback from advisers seeking a more streamlined process for providing advice and a centralised place for their reports and tools, the firm said.

SimplyBiz created the service with Defaqto Engage and Intelliflo, with some components within the solution developed by Oxford Risk, Finametrica, Morningstar and Moody’s.

Dan Russell, managing director of SimplyBiz Investment Services, said the most important aspect of Centra was that it was “designed and created by advisers.”

“Our members told us they wanted greater efficiency in the advice process, a seamless link from financial planning to research and suitability reports, greater support in making suitable investment recommendations, and support to deliver a better customer experience. Centra delivers on every one of those requirements.

“Centra is a single system. The entire breadth of functionality available – from Know Your Client information, through to risk, goals based planning, research, suitability and client management – is accessed through just one login,” he said.

Zahid Bilgrami, CEO at Defaqto, said: “SimplyBiz Group is a highly successful and forward-thinking business and we are delighted that their managed team has chosen us to power their financial planning processes. They performed extensive due diligence into the sort of software that would meet their needs as they continue to grow and it’s positive that Engage came out on top.

“The easy-to-use and fully integrated nature of every component of Centra is unique and we’re thrilled to hold such a prominent role in the delivery of this vitally important and useful system.”

Centra will be rolled out to members of SimplyBiz over the first quarter of this year, with practical demonstrations and workshops taking place at the group’s upcoming events.


Professional Paraplanner