A new financial planning application to help radically reduce the cost of servicing customers for large IFAs is due to be launched by Distribution Technology.
Dynamic Point of Sale (DPoS), which claims to be the industry’s first end-to-end SaaS financial planning, sales and service application, launches in December. It aims to help IFAs with more than 50 advisers implement some of the changes required by the RDR. The application allows consolidation of multiple assets onto platforms and integrates end-to-end client management, fact finding, financial planning, advice formulation and client review on a single application.
The product of a 4m investment programme, Distribution Technology says DPoS ‘radically reduces the cost to sell and to service customers, builds adviser productivity and demonstrates the value of your advisers’. The software provider says the application will also help IFAs implement the switch to adviser charging – one of the key challenges of the RDR. ‘Adviser charging means businesses will need to clearly demonstrate the value they provide to customers both in the initial scale and on an ongoing basis,’ it says.
Summary of technology consultancy AT8’s Review of DPoS ‘DPOS has grown and established itself as a leading POS solution. Whilst it is available as an On-Premises model, for those customers that really do want to have the solution within their own infrastructure, it is the SaaS capability that excites us and that more people are seeking to embrace. ‘Distribution Technology has a strong product management heritage and this comes across in how they have structured the product and in the road map that they have shown us. ‘The combination of the financial planning strengths of Dynamic Planner with the more comprehensive POS and client management capability of Dynamic Point of Sale is a mixture that provides real business benefits to advisers and organisations looking to transform and grow their business ahead of the potential regulatory changes in 2012. ‘DPOS is well worth investigating further for any firm with 50 users of more as it offers such companies a consistency of process and advice that will be hard to rival from other vendors.’
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