The integration launch of two of FE fundinfo’s key products – FE CashCalc and FE Analytics – will save hours of wasted time for financial advisers during the financial planning process.
The integration of the systems, by global fund data and technology company FE fundinfo, will mean that those that have a licence for both FE CashCalc and FE Analytics will be able to streamline the financial planning process and avoid the need to have to move between multiple systems when conducting investment research and cashflow planning.
Users will now have the ability to generate an FE Analytics Medium Scan from within FE CashCalc, easily export a portfolio from FE CashCalc into FE Analytics, and quickly download FE Analytics factsheets, KIID Documents, Provider Factsheets, and Adviser Factsheets from within FE CashCalc.
The work to join two of FE fundinfo’s most popular services from its Financial Advice Hub is the latest step forward for the company, following developments made in 2022 that gave users the ability to import a plans latest valuation and holdings data into FE CashCalc. That upgrade meant advisers can store fund data, fund values, and fund codes within their FE CashCalc accounts and now, thanks to the current integration, can start utilising this rich data if they have already connected their back-office systems.
Furthermore, the integrations will also help financial advisers navigate the plethora of new rules and regulations that Consumer Duty brings when it comes into force on 31 July 2023.
Consumer Duty aims to set higher and clearer standards of consumer protection across financial services, and requires all firms to act so they deliver good outcomes for their customers and the integration of the two FE fundinfo services will mean advisers can utilise our technology and data to help them evidence their Consumer Duty requirements.
Earlier this year, FE fundinfo found – as part of its adviser survey – that 90% of financial advisers believe integrations between software providers were important to their financial planning process.
However, despite this, according to data from FE CashCalc, only 28% of financial advisers currently have an active integration between their FE CashCalc account and back-office system.
Data revealed in the adviser survey results also showed that those who did integrate their FE CashCalc account with their back-office system had, on average, 32 more clients within FE CashCalc than someone who was yet to integrate.
Stephen Mitchell – Head of Adviser Product Strategy, FE fundinfo
“The integration of two of our key products – FE CashCalc and FE Analytics – has been a high priority for us and its great news that we are now seeing the fruition of the many hours of hard work that have taken place behind-the-scenes.
“Integrating technology has typically topped the wish list of many financial adviser surveys in recent years, so this can really help streamline the process that financial advisers have to go through and make it a more efficient way of working.
“This is a great step-forward for us but not the final destination. We will continue to work hard to ensure our products remain market-leading as well as adaptive to the ever-changing processes and procedures that financial advisers must navigate during their work.”
The integration of FE CashCalc – recently shortlisted for the ‘Best Use of Technology in the Investment Life & Pensions Sector’ as part of the 2023 Investment Life & Pensions Moneyfacts Awards – and FE Analytics can only be used by those who have a licence with both systems. Those who have both licences won’t need to set-up an integration between FE CashCalc and FE Analytics as FE fundinfo will automatically identify mutual users who have signed up with the same email address.
For more information about the service, visit FE CashCalc and FE Analytics.
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