Financial Simplicity

Financial Simplicity introduces automated commentaries to portfolio reports

Financial Simplicity, the digital platform for personalised portfolio management at  scale, has introduced a new feature that cuts the time it takes to produce a  personalised portfolio review or record of advice complete with supporting trade  recommendation commentary to seconds. 

The new feature automates the addition of commentary for every investment that is  calculated to be bought or sold within a portfolio based on a library of investment commentaries that the adviser or portfolio manager has previously set up.  

It enhances Financial Simplicity’s existing capability to calculate personalised portfolio review adjustments across multiple client accounts, asset classes and  currencies with speed and scale by eliminating the need to input commentaries  manually.  

Financial Simplicity CEO Stuart Holdsworth said by adding automation to the  commentary function, wealth managers, stockbrokers, financial advisers and licensees  could reduce the time, cost and compliance risk of producing portfolio reviews for  clients.  

‘Most advisers or portfolio managers rely on repetitive manual methods such as cut  and paste to add commentaries to their reports, which not only takes time and effort  but runs the risk of errors,’ Mr Holdsworth said.  

‘By bringing automation to the portfolio commentary process, our new feature can  improve adviser productivity, reduce advice costs, give clients a better experience  and reduce licensee compliance risk. 

‘Ultimately this is about enabling advisers, stockbrokers and wealth managers to  spend more high-value time with existing clients, attract and service new clients and reduce the cost and compliance risk of delivering their services – time they previously  would have spent on low-value activities associated with producing reports. 

‘We are committed to further pushing the envelope to support the Australian wealth  industry with smart technology. Wealth managers are facing increasing obligations to  not only determine client-centric buy and sell recommendations against a client’s chosen investment strategy but also to have compliant documentation in place. Our new feature represents a considerable productivity benefit as well as brings best  practice client servicing and compliance support to this process.”

Matthew Giannelis

Secondary editor and executive officer at Tech Business News. Contracting as an IT support engineer for 20 years Matthew has a passion for sharing his knowledge of the technology industry.

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