Focus Solutions Group plc, an established supplier of enterprise solutions to the financial services industry, today announces the launch of a new holistic financial planning capability within its focus:360° wealth management product.
This newly enhanced offering will provide organisations with both new world financial planning capabilities and Customer Relationship Management ("CRM") functionality within a single software solution, enabling them to increase productivity and reduce IT costs.
As the Retail Distribution Review (RDR) has advanced there has been a growing trend to bring together holistic financial planning and client relationship management to enable wealth managers and IFAs to streamline the provision of a full service offering to their clients. To support this market development, Focus has enhanced its focus:360° wealth management software solution to include a range of functionality that has previously only been available in separate standalone systems.
Commenting on this trend, Dave Upton, Product Director at Focus, said: "After 20 years of helping advice companies piece together disparate tools to support their end to end business process we believed that the industry is crying out for these capabilities in a single solution. By investing in focus:360° wealth management, advice firms will no longer have to subscribe to multiple third party systems with varying interfaces and passwords, enabling them to increase productivity and reduce monthly IT costs."
The new planning tools will provide users of focus:360° wealth management with an interactive visual analysis of a client's financial position and will enable them to model income and expenditure, plus assets and liabilities across the lifetime of the client. The solution will also support unlimited 'what if' life events and financial planning scenarios to allow an adviser to rapidly identify potential shortfalls whilst involving the client in an engaging process.
Upton continues: "I am delighted with the range of functionality that we have incorporated into our new holistic financial planning tools and believe they will be of real benefit to firms in a post-RDR world. In particular the ability for advisers to segment their client's portfolio and model risk at a need level as well as at the portfolio level is a truly unique offering in the industry."
focus:360° wealth management is available online and offline and provides access to premiere stochastic modelling and product research tools, Financial Express x-ray data and fund charting functionality along with a secure client portal. The solution will also be offered as a SaaS version later in the year.