DP's new cashflow app to give clients remote access

DP's new cashflow app to give clients remote access

Dynamic Planner has unveiled its new client-facing cashflow app, which forms part of a multi-million-pound upgrade it embarked on three years ago.

The white-label app, set to land in the summer, is synced to the adviser’s own Dynamic Planner dashboard. 

This means any data which the client enters will pull through, allowing advisers to import it and complete their cashflow forecasts using their dashboard’s Life Wealth graph.

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Ben Goss, the software provider’s chief executive, hopes the app will get advisers’ clients more engaged in the financial planning process.

“From the get go, we are giving the client feedback [on financial goals]. And again, you'll be able to configure the level of feedback and fun that you want to have with this,” said Goss at Dynamic Planner’s annual conference today (February 2).

“We do believe that the more personalised you can make the experience, the better. Everything within this application, and from a branding point of view, can be configured to your firm. [...] Because this is hybrid, not robo.

“That way, it’s not a boring fact find. It’s not a boring KYC [know your customer].”

In Goss’ presentation, the app greeted advisers’ clients with the ‘number one record when you were born’ upon logging in, pointing to some of the “fun” advisers can have with the app.

Clients can then add in their income sources, as well as their arrangements and expenses - which are all categorised within the app.

Advisers that already have a relevant licence with Dynamic Planner will have access to the app and will be included in the fees they already pay.

Goss said the team was readying to bring in data from third party sources automatically via open banking, including from pension dashboards which advisers are set to be granted access to.

Clients can also use the app to check all the adviser’s data on them is correct, ensuring no inaccurate facts skew the cashflow forecasts.

"Cashflow planning in Dynamic Planner is designed to be used by the adviser in conjunction with their client,” a spokesperson told FTAdviser.

“The functionality we have announced today allows clients to remotely upload their own income, expenditure and arrangement details into the system, transforming a traditionally laborious process into an engaging experience."

Alongside its client-facing app, Dynamic Planner has promised to add a series of new API connections, starting with Time4Advice’s Curo CRM.

Goss concluded his presentation by announcing the firm’s decision to start researching products and platforms on behalf of advisers.

This research tool is already being used by early adopters, with a wider release scheduled for March, and allows advisers to rank companies based on their products, for example which platform offers the best wrapper.

In an effort to meet Prod requirements, the new search tool allows advisers to objectively research products, platforms and providers from across the whole market.