In the first of a new Next Generation Adviser series, we ask firms for their top tech picks. Here Dominic McLoughney, director of Becketts Financial Services, explains his software selection and why visual goal-tracking tools could be useful for clients.
We use Intelligent Office and it is great for our fee processing, which we outsource to an amazing company called Adviser Outsourcing. I cannot recommend them enough. The rest of the system I have to admit we have not fully developed but we do not love the interface.
We have our own paper fact-find, but we also use PreciseFP for online fact-finding. This is something we are looking to develop to help serve different markets.
Voyant Cashflow. The visual options are great and clients really love the ability to see the plan change in front of them in real time.
Attitude to risk
FinaMetrica. We moved to FinaMetrica last year. I see attitude-to-risk questionnaires really only as a base for a conversation. I am not a huge fan but the gap-fill analysis is good on FinaMetrica, especially when presented on a big screen.
FE Analytics. We used to use Morningstar but we have been with FE for five years or so now and I don’t think there is anything to rival it.
We use a range but we run our centralised investment proposition with Parmenion and it has been brilliant.
This is in development but we have been speaking with Money Info for a while now. Their system is really attractive on the client view side.
Tech wish list
We want to use a more client service-focused customer relationship management system. We have been in discussions with WealthBox around their general data protection regulation status for a while.
I also really like the idea of DataPoints software. I would like to look at that in the future so we can maybe have a more sophisticated and analytical understanding of a client's behaviour.
We have not taken on TimeLine App but I think it looks like an awesome piece of kit, and really relevant and useful.
I wish someone would build a really visual goal-tracking piece of software that could link into client portals and other reporting technology. If there was demand, we would look into building it.