An adviser-backed start-up using "human digital hybrid solutions" is launching to help peers become more financial planning focused.
Backed by several prominent financial planners, Advicefront is to launch several tools this autumn to allow advisers to process clients “seamlessly” through a goals-based financial planning process.
Advicefront has already launched Onboard, a risk profiler, fact find and client agreement generator, which is designed to speed up and automate the client onboarding process.
The next stage will consist of a suitability report creator and simple retirement planning tool, followed by direct integration with several platforms.
Advicefront works with a community of advisers on all aspects of its technology, including financial planner community NextGen Planners, which helped it develop Onboard.
Clients can be led from first meeting right through to giving advice and processing payment.
The firm has developed its own risk profiling and fact finding templates but it also allows readily available third party adviser software to plug into its system.
It said it believes in making human advisers and digital tools work together to achieve the best outcome and that it was not interested developing purely robotic advice solutions.
Founder José Supico said: “We want to give advisers some tools so they can get up to speed with financial planning and allow their clients to invest towards a goal.
“We see ourselves as the glue that ties everything together and gives a modern user experience to the customers and advisers.
“The solution is perfect for a network because they can customise [it] to their suitability processes and it allows them to monitor what the advisers are doing.”
Advice front is backed by a number of angel investors, including Serenity Financial Planning's Tina Weeks, Josh Matthews, a partner at Maseco Private Wealth, and META Finance’s founder Ben Leonard.
The firm received £1.3m in backing from industry players earlier this year and says it is fully funded for the next two years.
Investors also included former Bloomsbury Wealth Management principal Jason Butler, Tilney investment director Charles McKinnon, consultant Brett Davidson, who is director of FP Advance, and insurance specialist and investor Lucy Viggers.
However, the majority of the funds were raised when FNZ took a minority stake in Advicefront for £1m.
Mr Butler said he believed in the proposition because the approach came from the client’s perspective and the team “fundamentally believe” in the hybrid approach of human and digital working together.
“Their core element, Onboard, makes signing up clients easier. Future modules will revolutionise planning and servicing clients,” he said.
carmen.reichman@ft.com
