Coin has launched additional functionality to its financial planning software, giving advisers the ability to compare super fund and risk insurance options for their clients.
The new Compare: Super module has been developed in response to feedback from advisers in regard to what additional value they wanted to get from the Coin system.
In reference to the superannuation comparison feature, Coin has split the capability into two modes.
"One is a research mode and this is very good for advisers and their office to be able to use that to educate themselves on the features of products that are available in the market, to do research in terms of background and that helps with education," Coin head of product and technology Robert McCabe said.
"The other mode is an advice mode and that's with a client in mind. That can be a client across the telephone or in the office, or a client that is coming in the next day looking for a statement of advice," he said.
The insurance comparisons available are also offered in two modes.
"One can be in fund or it can be outside of super as well. Essentially, this gives advisers options to present to the client and doesn't necessarily force them down one path over another," McCabe said.
Once the comparisons of funds and insurance options are made, the adviser can produce reports noting the final outcome and these outcomes can be automatically adapted to generate a statement of advice from the system.
To avoid errors, client information for Compare: Super has been integrated with that contained in Coin Office.
Data for the super fund comparisons is being provided by Mercer and Rice Warner is supplying the information with regard to insurance.
Compare: Super is being offered to clients as an additional service and is being charged on an individual client-by-client basis.
