Fintel has launched a connected tech and workflow platform to save advisers time.
The technology company said advisers, on average, use nine pieces of software in their advice process, all with separate login details.
Fintel joint CEO, Neil Stevens, said the aim of Fintel IQ is to connect the sectors technology solutions and optimist software and data for large businesses.
Stevens said: “Advice businesses, and particularly those with a large number of advisers, use lots of different technology and workflow solutions on a daily basis.
"This leads to enormous inefficiencies and makes it very difficult for them to own and control a consistent client journey. Many large adviser businesses also struggle with the inconsistency of approach and user interfaces throughout their software stack
“We are breaking new ground, and our focus is on connecting best of breed technology rather than building a single solution. We believe in open technology collaboration and integration for the benefit of advisers and their clients.
"Our mission is to build simple and integrated financial technology that increases the accessibility of financial services and upgrades the financial planning experience.”
Software which Fintel IQ brings together includes Intelligent Office, Plannr, Defaqto, VouchedFor, Competent Adviser, Synaptic, ifaDASH, APS, and Owen James.
It has been designed specifically to help businesses with more than 100 advisers manage their advice and regulatory workflows through a single technology platform.
Kyle Augustin, formerly chief operating officer of Fintel and managing director of SimplyBiz, has been announced as Fintel IQ CEO, while Ben Rogers, previously managing director of Synaptic Software, has joined as chief operating officer of Fintel IQ.
Wendy Dines, who has previously held senior roles at Time4Advice and Intelliflo, has taken the position of director of technology distribution.
Augustin added: “We believe that everyone should have access to professional advice, and Fintel IQ exists to build simple to use, connected technology, that increases the accessibility of financial services.
"Combining leading fintech, unrivalled insights, and expertise, our modular, connected platform supports large advice firms to operate effectively and grow quickly.
"Our platform will help business leaders with centralised data and MI, ensuring better outcomes consistent with consumer duty as well as uncovering more commercial opportunities.”
tara.o'connor@ft.com
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