Etienne Van den Bogaert of Prosperity Financial Services outlines the firm’s software applications, and explains how it can add value in terms of financial planning for individual investors.
Date: Mar 2012
Tags: Technology, Financial planning
This is suited to either the mass affluent or private banking sectors, he said, and is a graphics-based and interactive software to enable advisers to show to prospects and clients the evolution of their finances over time.
This ranges from their situation today to how it will evolve over the long term – incorporating events like a child’s education or buying a property.
The application can work in different ways, said Van den Bogaert. For example, it can be used on an iPad for those individuals whose attention needs grabbing.
This can help advisers to show them the importance of saving money, investing over time and being careful with their finances, he said.
That requires a modular-based system, explained Van den Bogaert, to be able to offer either a simple, and quick message, right through to a full financial planning simulation, involving analysis of all aspects of a client’s life and what this means.
Platforms which exist today are very text-based, he added, but this doesn’t look compelling.
Getting output from the system
Van den Bogaert said the ultimate output is a full financial plan, to explain a situation today and the projections going forward.
This then forms the basis for determining how a client can achieve their goals, he said, which can be put into a full report with a recommendation.
The key message throughout the process is to build a sense of trust and for the adviser to show that they care for the customer by providing all the information they need in a user-friendly, said Van den Bogaert.
The customer should hopefully then walk out of the meeting pleased to have had the discussion.
