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Fidelity partners with fintech to launch planning software

Fidelity partners with fintech to launch planning software

Fidelity has partnered with Canadian fintech Conquest to become the exclusive distributor of its financial planning software, Conquest Planning, to the UK advice market.

Conquest Planning uses data and Artificial Intelligence to provide advisers with greater insight into clients’ circumstances, allowing them to model recommendations in real-time and understand how they might impact clients’ goals.

Its technology can build and compare different plans to give more time for advisers to spend with their clients.

The system will be available to UK advisers through Fidelity Adviser Solutions.

Jackie Boylan, head of Fidelity Adviser Solutions, said: “Conquest Planning has the potential to transform the way advisers engage with their clients, and ultimately the way they do business.

"By creating a consistent framework for delivering robust financial plans, it improves the efficiency of client reviews and provides advisers with the opportunity to help more people benefit from advice and potentially engage with new clients, as well as review how they operate as a business.

"[Conquest's] solutions have the potential to change the way financial services companies operate and partnering with the team to deliver Conquest Planning to the UK advice market is a significant step for Fidelity Adviser Solutions."

The software includes a digital assistant which can create client "profiles" incorporating information about their objectives, priorities, and risk tolerances.

It can also help with real-time scenario planning, enabling advisers to model and re-model changes to a client’s plan and understand how a change in their recommended strategy - such as saving more or retiring later - will affect their outcomes.

Mark Evans, president and chief executive of Conquest, said: "After tremendous early success, modernising advice delivery for over 15,000 advisers in Canada, we are excited for the opportunity to bring Conquest Planning to the UK.

"When building Conquest, the ability to support multiple geographies was a priority as access to financial advice is a global challenge.

"Our AI approach to advice provides independent financial advisers with a powerful, yet intuitive platform to efficiently build and manage financial plans."

damian.fantato@ft.com