Fintech and data provider Defaqto has bolstered its Engage Financial Planning system, adding more tools and capability to provide an ‘all in one’ Financial Planning package.
Defaqto Engage has been expanded with more tools to provide a single, comprehensive package, the firm says.
It estimates about a third of advisers use six Financial Planning systems.
Defaqto says about a third of UK Financial Planners use Engage with recommendations worth £43bn processed annually through the system.
Engage now includes:
- End-to-End Financial Planning
- Cash Flow Planning
- Risk Profiling
- Detailed Research for Funds & Products
- Protection Research
- Ratings & Reviews
- Pension, Platform & Product Switching
- Suitability Report Production
- Back Office/CRM Integrations
Defaqto says the updated package adds simplicity and reduces cost for the adviser.
This month Defaqto has added a new reports hub integration with MICAP, a tax efficient product research provider acquired by Defaqto last year. Other additions include expanded Consumer Duty profiles on Platforms, SIPPS and personal pensions.
Defaqto says the addition of new tools and ability to carry out most Financial Planning processes through the system will save planners time in using several systems. Further improvements to the user experience are also planned.
Defaqto CEO John Milliken said: “We’ve invested in our suite of tools so advisers can access everything they need for their entire Financial Planning process – from risk profiling and cashflow modelling to pension, product, and platform switching, all in one place.”
