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Moneysoft and Prospera launch strategic advice platform
Moneysoft and Prospera launch strategic advice platform
Cloud-based technology providers Moneysoft and Prospera have teamed up to provide advisers with a strategic advice platform aimed at increasing practice efficiency and client engagement.
Moneysoft's budgeting and cash flow management tool will be integrated with Prospera's financial modelling and portfolio tracking service to provide advisers with an end-to-end software solution, a joint statement said.
David Dye, Prospera co-founder and head of development, said the solution eliminates the need for advisers to manually gather client account balances and ensures advisers have up-to-date data.
"In order to implement a robust financial plan, advisers need accurate data, which is why the combination of Moneysoft and Prospera is so powerful," Mr Dye said.
"Moneysoft tracks a client's income, expenditure and cash flow, then Prospera takes that data and works out how best to invest a client's money in line with their risk profile and goals," he said.
Moneysoft managing director Peter Malekas said a key benefit of the integrated solution is that it clearly determines the role and responsibilities of the client and the adviser.
"Basically, clients need to save, budget and set goals, and if they do that, advisers will be able to implement an appropriate strategy to maximise the probability of them achieving their goals."
"There's nowhere for clients to hide with this solution," Mr Malekas said.
Mr Malekas noted that the partnership was motivated by adviser demand for a solution that increases practice efficiency, transparency and client engagement.
Approximately 24 advice practices have trialled the solution as part of a pilot program, with the solution now being made widely available to all practices, the statement said.
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