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Switch On Solutions has launched Freedom, its IFA data management software, targeted at smaller firms who have no centralised system for storing and managing client and business information.

Freedom provides the ability to store all client background and policy information in one place and also has various business tools including analysing profit margins for each client.

The system has been designed by practising IFA Martin Andrews in response to his perception that existing offerings were too complicated and did not provide the sort of client and management information that IFA business owners needed. He designed the system specifically to help IFAs move towards a fee-charging system.

Mr Andrews said: "Many IFAs are put off implementing any sort of standard software due to the ongoing cost and complexity of most products on the market.

"Key factors within any IFA business are their client lists, the income that each client generates, the cost of servicing each client, and the value of the total funds under management. Furthermore, a simple way of identifying who has invested in which fund or sector is essential in terms of asset allocation. Freedom provides all of this and much more."

Robin Stamp, IFA for Alpha Financial Consultants in Somerset, said: "After just a few months with Freedom, I can now instantly access all client files and data and my old Word and Excel files, thus producing fingertip valuations for my clients.This has improved both the service I can offer to them and cut down on the donkey work.It also allows me to keep track of funds under management and thus the underlying value of my business."

www.switchonsolutions.com