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Financial planner-backed startup integrates with CashCalc

Financial planner-backed startup integrates with CashCalc

Financial planner-backed start-up Advicefront has integrated with cash flow planning tool CashCalc, in a bid to improve the way financial planners process client information.

The move will allow planners to share client data across their CashCalc and Advicefront accounts, meaning they will no longer have to re-enter information when using the new software.

The start-up has already released its Onboard product to financial planners earlier this year.

The tool acts as a fact finding and agreement generator and helps automate client onboarding processes such as billing and risk profiling.

It comes after Advicefront secured a £1.3m investment round led by technology provider FNZ, in June this year, whereby FNZ took a £1m minority stake in the start-up.

A further £300,000 was invested by well-known advisers including founder of Serenity Financial Planning, Tina Weeks, and Josh Matthews, partner at Maseco Private Wealth. 

Advicefront developed Onboard with the help of financial planner community NextGen Planners. The start-up works with a range of financial advisers on all aspects of its technology. 

The integration with CashCalc is one of many planned integrations between Advicefront's tools and other technology used by financial planners in the UK, the firm said.

Advicefront co-founder José Supico said: "There should be no need for advisers to scramble about between different tech platforms, continually inputting the same client data again and again. 

"This integration will allow them the time to focus on what they do best – delivering financial advice."

Advicefront will be releasing a second product later this summer, which will help advisers build financial plans for their clients including suitability reports and retirement plans.

Ray Adams, director of CashCalc, said: "I am a firm believer that software providers within our industry should make information available to each other if it’s in the interests of advisers and their clients. 

"I am delighted to welcome Advicefront to our integration suite and look forward to working together to drive greater efficiencies within the financial planning process."