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Fee disclosure app developed

Boutique software developer Trynkett Technologies has announced the release of its SmartOPTS App, which offers advisers a “fee disclosure solution” to assist with their Future of Financial Advice obligations.

Trynkett believes it has “trumped” major industry software developers with its release of the SmartOPTS App, according to Peter Morrison-Dowd, consulting adviser at Trynkett.

“SmartOPTS has been designed to take the compliance of fee disclosure and opt-in and turn it into a client value position that highlights the work that advisers do behind the scenes for their clients,” the announcement read.

“The company believes that if all a statement does is show cost, be prepared to lose clients who wonder what they are paying for.”

Morrison-Dowd told ifa the app offers advisers the “highest level of engagement” they’ll have with a client, without increasing labour costs.

SmartOPTS is part of Trynkett’s WealthMAP solution, developed over four years with input from 370 advisers and 1,500 of their clients.