Defaqto has upgraded its adviser software package to enable users to increase efficiency, improve compliance and drive revenue.
The upgrade, unveiled today (29 February), is being billed as an industry first and will provide a financial planning journey in a single, comprehensive package.
Defaqto Engage, a software currently used by around a third of UK advisers, now incorporates all the components required for financial planning without the need for additional licensing.
It includes end-to-end financial planning, cash flow planning, risk profiling, pension, platform and product switching and back office/CRM integrations, among other features.
Defaqto chief executive John Milliken said: “We know that running an IFA business is becoming increasingly challenging. The amount of regulation is increasing, there are macroeconomic headwinds and the cost of doing business is going up.
“Defaqto Engage enables smarter financial planning by guiding practitioners through an auditable financial planning process and maximising client value.
“Having the right technology can help retain customers, increase Assets Under Advice (AUA) and introduce new revenue streams.
“We’ve invested in our suite of tools so advisers can access everything they need for their entire financial planning process – from risk profiling and cashflow modelling to pension, product and platform switching, all in one place. No add-ons, no extra costs – it’s all here in one package.”
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