Wealth management software firm Decimal has launched a new online support tool, designed to help financial planners by automating time-consuming tasks.
"We believe we've developed technology that will fulfill the promise of letting advisers truly advise and we do that by giving them a website which is not only really easy to use, but also has the power to automate the processes associated with them doing the financial planning," Decimal managing director Jan Kolusz said.
The Decimal service has attempted to streamline one area in particular: the initial client 'fact find', by automating information based on age, salary and census data from the Australian Bureau of statistics (ABS).
It allows advisers to know a whole lot of information about the client immediately, based on statistical averages, according to Kolusz.
This information is the starting point and can be tailored as much as necessary to suit the client's needs.
From the initial information, several investment scenarios can be calculated including a cash only strategy, a superannuation strategy, an equity portfolio strategy and a direct property strategy.
As one parameter is changed, all four scenarios are recalculated and the range of products used to extrapolate the results is extensive.
The new tool can be accessed from Decimal's website free of charge. If advisers wish to provide their clients with access to the service via an icon on their respective website, a small subscription fee will be charged.
