ANZ-aligned dealer group RI Advice has launched new cash flow management software which CEO Darren Whereat believes could provide a solution to servicing lower net worth clients.
In particular, Mr Whereat believes the program may appeal to clients with lower incomes.
“What we've found is an unmet need, right across the demographics, for people with not a lot of money at their disposal now. They are just really wanting to get a handle on their finances,” he said.
“This software enables the adviser to have that conversation.”
Mr Whereat suggested that while advisers would consider a number of factors when choosing a dealer group, the availability of the cash flow management system could be influential.
“Having a cash flow management solution can't hurt when we're having discussions about people joining RI,” he said.
“It's generally available to everyone within our network.”
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