Voyant Adviser Development Solves Industry Disconnect
15 October 2009
Voyant UK today announces a significant enhancement to Voyant Adviser, the UK-specific web based financial planning platform, that aims to solve one of the biggest disconnects in the financial services industry.
The new development – Product Simulation Bolt-Ons – will integrate third-party financial products into Voyant Adviser, enabling a streamlined product recommendation process. This will allow financial advisers to offer guidance on commercially available products and compare and contrast their specific effects on a client’s overall financial plan.
Bob Freeman, vice president at Voyant UK, said: “The purchase of products such as pensions, investments and annuities is ultimately required to effectively put a plan in motion. Unfortunately there has always been a chasm between what is discussed or simulated in an individual’s financial plan and which products are ultimately recommended or illustrated.
“Some planning solutions ignore third-party products altogether while others only provide a limited ability to simulate products on a non-configurable ad overly generic basis. These shortcomings inhibit plan accuracy and clarity, preventing advisers from illustrating a product’s impact on the larger context of a client’s financial future. Voyant’s Product Simulation Bolt-On eliminates this disconnect by letting users select from a list of commercially available financial products to simulate solutions to best help them achieve their goals.”
Voyant Adviser, which launched earlier this year, employs flexible scenario-planning that allows financial advisers and their clients, through an ongoing discussion and collaboration, to define and achieve key milestones over time.
The tool invites the user to build a personalised ‘timeline’ of life events and stages such as the payment of school fees, a wedding, buying and selling a house and retirement, and to allocate financial needs and goals to those events and stages. Incomes, expenses, assets and liabilities can be linked where appropriate to specific events or life stages.
