Systems integration helps financial advisers plan clients’ cash flows
Seven Investment Management (7IM)’s award winning app, 7IMagine, and Intelliflo’s Intelligent Office can now be integrated. The tie-up provides advisers with the ability to transfer their clients’ personal and financial information held within Intelligent Office to 7IMagine within minutes, removing the need for rekeying.
All details of a client’s family, any properties held, as well as any financial or physical assets will be systematically loaded into 7IMagine to enable the use of My Future, the cashflow planning tool embedded in 7IMagine. Any information is flagged so that additional figures added by the adviser and client are clearly distinguished. Subsequent reviews of the plan will allow the adviser to refresh and update the data from Intelliflo ensuring the cash flow plan reflects the most up to date personal and financial details.
Commenting on the partnership, Verona Smith, Head of Platform at 7IM said: “Cash flow planning is increasingly being recognised as a really effective way to introduce clients to the benefits of financial planning. With state retirement ages changing, expected longevity under scrutiny and people’s finances becoming increasingly complex due to a plethora of pension and saving schemes and ISAs, it’s no surprise that people struggle to keep on top of their retirement investments. Cash flow modelling is an important way to engage clients with their portfolios and help them gauge how close they are to reaching their goals.
“A recent pension survey commissioned by 7IM determined that some 35% don’t think they’re saving anything and 15% are unsure of what their position is. A further one in ten stated that they don’t understand enough about pensions and it’s paralyzing any financial planning.
“People are put off by the way we operate as an industry. We’ve done too little to help advisers and their clients get a handle on investments and savings in an engaging way. We all appreciate that technology can help people get to grips with their money. That’s why we’re committed to the continued development of 7IMagine – innovation that’s continuing.”
Nick Eatock, Intelliflo’s Executive Chairman, added: “Intelligent Office is structured to enable integrations that make a real difference to the day-to-day work carried out by advisers, creating efficiencies that free up time, improve accuracy and speed up processes. This integration with 7IM is an excellent example of how we can work with our provider partners to make a real difference to the user experience.”
With over 17,000 users, Intelligent Office is the most widely used practice management software in the UK.
The option to enable client information to be transferred between Intelliflo and 7IMagine is accompanied by a series of other changes including clearer menu options, and the ability to link pension drawdown monies with inflation. Touch ID is also now available on Apple devices so that advisers and clients can immediately login to 7IMagine, with plans to launch this functionality on Android devices too.
The team behind 7IMagine are now working on enhancing My Future further with more functionality and flexibility providing advisers with additional tools and enhanced client reporting.
7IMagine won two more awards this July: Best Investment App in the Goodacre Systems in the City; and the FT Adviser Innovation Awards.
Seven Investment Management LLP is authorised and regulated by the Financial Conduct Authority. Member of the London Stock Exchange. Registered office: 55 Bishopsgate, London EC2N 3AS. Registered in England and Wales No. OC378740.
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