ProductRex, due to launch this month, aims to solve many of the “frustrations” advisers have with the “expensive, inaccurate and hard to use” financial planning software currently on the market when it comes to presenting product research in an SOA, according to managing director Nick Topham.
“Over the years I heard time and time again about the problem of collecting and presenting the data-heavy tables in an SOA – replacement of product advice and the asset allocation tables,” Mr Topham said.
“I never understood why the incumbent software providers made it so hard, and put so little attention into quality of data.
“One of the primary development focuses was on extreme ease of use, as well as providing the average user a straightforward way to exactly mimic their existing branding when outputting their product recs.
“The quality of our data is second to none, being based on sophisticated and automated QA processes, rather than laborious and error-laden manual checking.”
Mr Topham, who worked at AdviserLogic for seven years and ran his own paraplanning agency prior to developing ProductRex, said the new software would be free to use for advisers.
“We’ve moved away from a SaaS subscription model because I don’t think it’s appropriate or necessary in 2021,” he said.
“ProductRex is free to use for all advisers, paraplanners and support staff, and is instead funded through in-app sponsors. I’m stoked with the fantastic sponsors already on board for launch, who share the same values as us in helping reduce the cost of advice.”
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This from the group who set up XY Adviser then decided to do an equity raise? No thanks. Is it just me or does the “group” pat each other on the back all the time? As an actual Gen Y adviser I reckon it all stinks and just the new generation with their noses in the trough..,
Add this to the pile of failed paraplanning software before it.. Seen this story many times.. SaaS is here to stay, the integrations are what is needed to get better. Been a Paraplanner for many years now and the reason it takes so long are poor templates and inegrations. The tables are easily generated from 3rd parties like chant west in a couple of minutes, copy and paste into the SOA and you’re good to go.
How can a product comparison application open to sponsorships be any more reliable than other widely used adviser programs. More information on who can be a sponsor would be appreciated before any firm relies on the information.
If the product is free.. you are the product.
Holy moly!