Advice software provider FinPal has partnered with business process outsourcing company DBA Advisory to offer clients a back office outsourcing option.
In a statement, FinPal said it aimed to “significantly reduce the cost of delivering financial advice” through the new service, which will connect FinPal users with DBA Advisory’s service through the software.
FinPal chief executive Stephen Handley – who is also a co-owner of advice boutique MiPlan – said the service would give advisers an “off the shelf” solution to outsourcing and make it easier for advisers to reduce their back-office expenses.
“I think it’s pretty safe to say that all financial services businesses would like to find ways to combat the ever-increasing cost of doing business. Many are interested in the idea of outsourcing but have legitimate questions or concerns that deter them from giving it a try,” he said.
“By linking businesses to DBA’s skilled resources through FinPal’s software system, we believe we have a model that will significantly reduce the barrier to entry as well as the time required to achieve a successful outcome.”