intelliflo adds the power of cashflow modelling and planning to intelliflo office to support customers in demonstrating the value of advice, strengthen client relationships, and deliver against the FCA’s Consumer Duty legislation.
intelliflo announced today that their award-winning cashflow modelling and planning capabilities will now be included within their core intelliflo office system without the need for additional licencing, enabling customers to better serve clients and illustrate the power of their financial advice with real time, visual cashflow charts and data.
All intelliflo customers will have full access to these tools as part of their intelliflo office package, removing the need for them to buy additional external cashflow and planning software. This is a significant value-add for intelliflo office customers as it gives them the tools to demonstrate the value of advice and deliver against the FCA’s Consumer Duty legislation. This means nearly half the U.K. adviser market will now have access to these powerful tools (recent report from Platforum[1] identified that 46% of UK wealth advisers use intelliflo office).
Commenting on this innovation and continued investment in intelliflo office’s feature set, Nick Eatock, CEO of intelliflo, said:
“Adding cashflow planning to intelliflo office is a game changer for our customers and an exciting inflection point for our business. This demonstrates our commitment to our mission: widening access to financial advice by providing market leading, intuitive solutions for advisory businesses though our open architecture. We want to support our customers on their journey to be more efficient and make the complex simple for their clients, and this is an important step.”
One of intelliflo’s customers, Paul Morton, Investment Planning Director, Wealth at Work, stated “Adopting intelliflo’s capabilities has allowed us as a firm to embed cashflow modelling to our overall advice process. The interactive nature of the cashflow capabilities has helped our clients engage and understand the value and importance of the advice they are receiving. As the cashflow is a very intuitive solution, we are currently broadening the usage of the cashflow throughout the whole firm, which in turn will help increase our efficiencies and provide a stronger service to all our clients. The integration between intelliflo office and its cashflow capabilities ensures our data remains accurate and robust, removing the need for double data entry and reduces the likelihood of human error.”
Ian McKenna, founder of the Financial Technology Research Centre and AdviserSoftware.com sees today’s announcement that Intelliflo will bundle their planning and cash flow applications with their core Intelliflo office product as a valuable development for the Intelliflo users, but a significant challenge to other technology suppliers.
Commenting on the move, he said:
“Intelliflo have been at the heart of the adoption of open APIs when integrating different adviser systems. Their Intelliflo store provides no fewer than 82 third-party systems that can be accessed in this way. Not all are affected by this move but it is an obvious indication of the future direction of travel. From an adviser perspective this must be good news – they have the opportunity to pay one licence fee rather than two or three, but it may impact the viability of some of the smaller stand-alone technology providers in the long run.”
