Independent licensee partners with software provider
An independently owned financial planning group has announced it will partner with a software development firm to build bespoke solutions for its adviser network.
In a statement yesterday, Sentry Group said it will be entering into a joint venture arrangement with Intiger Asset Management Pty Ltd to develop a centralised back office administration and paraplanning solution for advisers.
The new solution is aimed at improving operational efficiency, productivity and compliance processes.
Sentry Group chief executive and chairman Murray Hills said, “Advice practices and licensees must transform their operational models to reflect the post FoFA LIF era that requires consumer/client best interests are firmly at the centre of everything they do.
“With significant margin pressures being experienced throughout the industry I’m confident our advisers will benefit from the Intiger offering, which will significantly bolster their back office operational frameworks and, in doing so, enhance their positions as professional client focussed advice practitioners,” Mr Hills said.
“Over the next few years, many advisers and licensees will exit the advice sector unable or unwilling to adapt as the era of professionalism gains momentum. In this environment, the advice practice that will benefit the most will be characterised by non-institutional alignment utilising modern processes, technology and resources to ensure positive client engagement and service outcomes.”
Sentry Group executive director and head of business solutions, David Newman said the first deliverable of the partnership will be the establishment of the paraplanning service, which will be designed to integrate seamlessly into the operational frameworks of advisers.
“This will be followed by a pilot program with a number of key practices to develop and fine tune the back office administration process,” Mr Newman said.
“Most importantly, all these new processes and workflows will be integrated into Sentry's overarching IRESS customised technology solution,” he said.
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