Client engagement solution, AstuteWheel, is celebrating its seventh birthday with the launch of third generation software that includes a regtech solution for financial planners.
AstuteWheel Managing Director, Hans Egger, says the latest version of the software comes with new functionality and a new way of taking up the AstuteWheel offer as well as addressing a number of compliance issues that have frustrated advisers for years.
“As the system functionality expanded it became obvious that advisers may like the flexibility to implement our various software solutions as and when required, starting with the base product that now includes powerful compliance tools and adding additional functionality later,” he says.
The new base product, Astute Client Engager provides a turn key solution for financial advisers to onboard new clients, provide engaged clients with a more valuable review, or to re-engage existing clients who are either disengaged or who do not have an ongoing service agreement in place.
Information gathering is made simple via an online fact find and five-minute financial health check sent to new clients or via an electronic reverse fact find and changes questionnaire sent to review clients.
“This process allows relevant information to be collected before the client meeting and automatically loaded into the client database to avoid any double handling of data,” Mr Egger says.
The Astute Client Engager also includes:
Goals based advice tool
Allows the adviser to help the client articulate their goals by expanding them into SMART goals (Specific, Measurable, Achievable, Realistic and Time-Bound). Additional file notes can be added and goals that have been achieved or discontinued can be date stamped and saved in the archive for future reference. The adviser’s compliance requirements are embedded in the process and a goals report can be auto generated as part of the audit trail.
Automatically transfers relevant information from the five-minute financial health check and goals tool allowing the adviser to walk the client through a series of conversation steps to ultimately produce a comprehensive report. This helps advisers to appropriately scope and scale advice to fit the client’s needs and provides an audit trail to meet ASIC requirements.
Initial letter of engagement and ongoing service agreements
Auto generated Word documents which include relevant information flowing from the goals and scoping tools, adding visual descriptions of the review process. These documents can be customised for each adviser’s service offering.
Add-on Modelling Calculators
There are also six suites of modelling calculators that can be added to the Astute Client Engager product depending on the adviser’s needs. These include:
- Income Planner
- investment Planner
- Debt Planner
- Risk Planner
- Retirement Planner
- Estate Planner
To find out more simply visit the website at www.astutewheel.com.au and register for a webinar to see the software live.