Holistic financial planners aren’t robo-advisers! They need real, detailed and accurate data about their clients to be able to help them make the right decisions. We know that this information is a lot more thorough than the simple solutions currently being promoted as financial advice. Holistic financial planners and advisers must make sure they consider all the angles (tax, timing, actual investments, real and detailed goals and more) before making recommendations and then be able to justify those recommendations with supporting evidence.
Well, typically it is completed with paper-based fact find or at best with an on-line form. Neither of these methods provide actual database capabilities that can be properly recorded, retrieved or analysed. What we finish up with is an incomplete set of data collected at a single point of time that must be re-entered into your financial planning software and that requires significant follow-up if you want an accurate picture of your client’s true position.
iFactFind™ provides true database capability into your client data collection. The smart use of data feeds and API’s mean that there is no need for reverse fact finds prior to client reviews – in fact, you will be able to ‘snapshot your client’s current situation each time you provide advice and have that stored for compliance purposes at the push of a button.
Rather than simply waiting for the information, the adviser has live access to what the client has completed. Client information is gathered collaboratively so that the ‘helping’ relationship commences early in the relationship. You will know what is outstanding, who is committed to completing (and whose commitment is waiving), and when to schedule SoA production all via the adviser dashboard. Additionally, any details you obtain can be directly entered into the client file – on the go.