Re-keying client data can often be one of the most dreaded tasks for a financial adviser. Spending hours, if not days, gathering and inputting information into one system, only to repeat the task every time you switch to using a third party – whether it be for online payments, risk profiling or cashflow modelling – will make you tug at your hair in frustration.
Luckily, Advicefront is directly connected to many of the most popular adviser tools out there, banishing the need for endless data entry and hunched shoulders. Our integrations with companies like FinaMetrica, FNZ, CashCalc and GoCardless are easy to use, at no extra cost, and they are about to change your life – at every stage of the client onboarding process.
Assessing client risk
The risk-profiling stage doesn’t have to be a data-driven chore. Due to our integration with FinaMetrica, one of the most popular risk profiling tools among UK advisers, clients can fill out their risk questionnaire on the move. The report is sent to the adviser on Advicefront, all at the click of a button. No re-keying in data, multiple log-ins or losing passwords.
Oxford Risk, another risk profiling programme, is actually embedded in our technology, so there is no need to be redirected to another website. It is, so to speak, done completely in house.
Every adviser has to charge a fee – some like to do it upfront – before starting the financial plan. Advicefront’s link with two online payment companies, GoCardless and Stripe, make this process a lot easier.
For example, the adviser can lay out the fees in the client agreement within Advicefront, and the client can enter their bank number via GoCardless. The adviser can then start collecting the payment. All with one click on either side. Again, there is no need to re-key information. The client can also see what they have paid for and when – via a simple dashboard. In 2018, transparency is key.
Forecasting clients’ futures
The bedrock of a financial plan is cashflow modelling. We also work with Voyant and CashCalc, programmes that advisers use to forecast investment returns and make sure clients’ expectations are realistic, whether it’s buying a new car in five years, saving for their children’s education or retiring at 60. With Voyant and CashCalc, the data is automatically exported and imported via Advicefront, with no additional hassle, helping the client move one step closer to those goals becoming a reality.
Finally, the way this all comes together is through seamless communication. Thanks to our integration with a instant messaging platform called Slack, the adviser or paraplanner can receive client notifications even if they are not logged on to Advicefront. Whether the client has added a new address, signed the client agreement or wants to get in contact, the adviser will always be the first to know.
Power of the wrap platform
An exciting new development is in the pipeline. As many advisers know, FNZ powers the infrastructure behind the largest wrap platforms. Thanks to our access to FNZ, we can connect to platforms in a completely different way. Advisers will be able to open accounts and send orders without ever going to the platform itself – they will just need to push one button, and we do the rest.
“Integrations” may sound geeky but they are designed for advisers’ convenience. You don’t have to give up what you are already comfortable using, and you shouldn’t have to. Second, seamless connections between Advicefront and other popular tools means advisers can get on and do the real client work they were entrusted to do – laying out a roadmap for the client’s future, not data entry.
Why not try out Advicefront’s Onboard technology for free?
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