Intelliflo is adding cashflow modelling and planning to its Intelliflo Office.
The firm said its cashflow modelling and planning capabilities will now be included within its core Intelliflo Office system without the need for additional licensing.
Intelliflo said this will enable customers to better serve clients and illustrate their financial advice with real time, visual cashflow charts and data.
Intelliflo customers will have full access to these tools as part of their package, removing the need for them to buy additional external cashflow and planning software.
Nick Eatock, chief executive officer of Intelliflo, said: “Adding cashflow planning to Intelliflo Office is a game changer for our customers and an exciting inflection point for our business.
“This demonstrates our commitment to our mission: widening access to financial advice by providing market leading, intuitive solutions for advisory businesses though our open architecture.
“We want to support our customers on their journey to be more efficient and make the complex simple for their clients, and this is an important step.”
Intelliflo said this is a significant value-add for customers as it gives them the tools to demonstrate the value of advice and deliver against the Financial Conduct Authority’s consumer duty legislation.
One of Intelliflo’s customers, Paul Morton, investment planning director at Wealth at Work, said: “Adopting Intelliflo’s capabilities has allowed us as a firm to embed cashflow modelling to our overall advice process.
“The interactive nature of the cashflow capabilities has helped our clients engage and understand the value and importance of the advice they are receiving.”
Morton said as the cashflow is an intuitive solution, he is currently broadening the usage of the cashflow throughout the whole firm.
“The integration between Intelliflo Office and its cashflow capabilities ensures our data remains accurate and robust, removing the need for double data entry and reduces the likelihood of human error.”
Ian McKenna, founder of the Financial Technology Research Centre and AdviserSoftware.com said Intelliflo has been “at the heart of the adoption of open APIs” when integrating different adviser systems.
“Their Intelliflo store provides no fewer than 82 third-party systems that can be accessed in this way,” he said.
“Not all are affected by this move but it is an obvious indication of the future direction of travel. From an adviser perspective this must be good news - they have the opportunity to pay one licence fee rather than two or three, but it may impact the viability of some of the smaller stand-alone technology providers in the long run.”
sonia.rach@ft.com
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