The chairman and founder of West Midlands-based Prestwood Group, which also includes financial planning firm Prestwood Etheridge & Russell, said the enhancements to its software packages Truth and Professional would allow advisers to get them on any device that can connect to the internet.
He said: “Cloud-based data sharing allows you to work from wherever you wish with your team, paraplanner or PA, as though they were in the same room.”
Mr Etheridge added that the technology, which is currently licensed to more than 1700 advisers, handling the affairs of 50,000 clients, would allow them to offer cashflow modelling wherever their client was located.
Speaking as Prestwood Group celebrated its 30th anniversary last week in London, he said: “The government’s new approach to retirement income is like a breath of fresh air, but consumers are in danger of being short-changed if their adviser isn’t using cash-flow modelling to plan properly.
“Now, more than ever, a visual picture of future scenarios is vital for individuals. Cashflow modelling is an essential tool for this day and age.”
Adviser view
Phil Stafford, partner of Hertfordshire-based Stafford & Co, said: “Planners who use cashflow modelling can immediately enable their clients to look ahead into the future, and its use will be crucial when pension liberalisation is implemented for income tax planning.”
