has partnered with finance software firm Moneysoft to create a new financial planning tool that will help advisors/brokers strengthen the money management skills of clients and help them reach their financial goals.
The tool will be offered through Mortgage Choice
under the name MoneyTrack as part of their cash flow coaching service.
Tania Milnes, general manager of Mortgage Choice
Financial Planning, said the software will help the firm’s network of advisors enhance the advice they provide to clients.
“The introduction of MoneyTrack will provide a robust basis for the advice we currently provide to help manage their cash flow. It gives clients an easy to understand tool that provides a clear picture of their spending and saving habits and helps steer the conversation around achieving their financial goals.”
brokers are aware of the MoneyTrack tool and its benefits, Milnes told Australian Broker
, and can introduce customers who are interested in using the tool to one of the franchise’s financial advisors.
“At Mortgage Choice
, we believe our mortgage brokers and advisors shouldn’t wear multiple hats. Instead, they should be specialists in one particular field so that they can share their specific expertise and knowledge with every single customer,” she said.
The platform was tested in a pilot program with a group of advisors and their customers, Milnes said. This allowed Mortgage Choice
to customise the offer to clients to better meet their needs.
Jon Shaw, head of technology and commercial operations for Moneysoft, said the platform would provide an efficiency boost for advisors.
“Our technology features straight-through processing which cuts down on manual data entry, delivering time savings to advisers while also enabling them to develop a greater understanding of their clients’ individual financial circumstances,” he said.
“We have a full suite of resources to support the offer and help advisors adopt this innovation seamlessly as part of their core business.”
The partnership with Mortgage Choice
extends Moneysoft’s customer base of financial advisory and dealer groups to ten.
“Furthermore, we are currently also working with a number of financial advisory businesses, dealer groups and partners and will be announcing these soon,” Shaw told Australian Broker.
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