Powered by momentummedia
Adviser Innovation logo
Advisor Inovation logo
Stay connected
Subscribe to the Adviser Innovation eNewsletter.
Moneysoft launches benchmarking tool

Moneysoft launches benchmarking tool

author image
By tlewis ·
March 09 2016

Moneysoft launches benchmarking tool

Fintech start-up Moneysoft has released a benchmarking and reporting tool, providing advisers with insight into the financial behaviour of their clients.

Moneysoft launches benchmarking tool
nestegg logo

Both advisers and their clients will be able to compare their financial behaviour against their peers, an exercise Moneysoft managing director Peter Malekas said is extremely motivating.

"This tool gives them insight into the financial behaviour of other singles, couples or families, and further strengthens the advice conversation around cash flow and budgeting," he said.

The tool - which was developed in collaboration with Experience Wealth and Your Spending Coach - also allows advisers to generate personalised reports for clients based on "spend analytics" and "budget versus actual".

"People should know and be encouraged if they're doing relatively well when it comes to their money management goals," Mr Malekas said.

Advertisement
Advertisement

Experience Wealth director Steve Crawford added: "The biggest value of having a peer group to compare your results [with] is that it gives your clients a perspective outside their own world, that is taken from other people just like them.

"This perspective is especially valuable to clients when it comes to making big decisions like changing and needing to reduce lifestyle spending to increase savings so they can achieve a goal - for example, a new property or to accommodate for maternity leave," Mr Crawford said.

Moneysoft said the benchmarking tool will be integrated into its cash flow, budgeting and savings management platform.

Forward this article to a friend. Follow us on Linkedin. Join us on Facebook.
Find us on Twitter for the latest updates

Subscribe to our Newsletter

We Translate Complicated Financial Jargon Into Easy-To-Understand Information For Australians

Your email address will be shared with nestegg and subject to our Privacy Policy