LAUNCH OF LIFELONG CASHFLOW FACT FIND PORTAL,
FREE FOR ALL TRUTH® USERS
Prestwood® Software, maker of Truth® cashflow planning tools, today launches the first portal which will allow planners to capture all the data needed to produce a detailed lifelong cashflow model for their clients.
Ritchie Walton, MD of Truth® Software, said: “We’re hugely excited to be able to offer all Truth® planners access to this unique tool. While other tools offer onboarding portals and affordability checks, our ethos has always been that you cannot do proper lifelong financial planning without in-depth cashflow modelling.”
The FCA’s thematic review of Retirement Income Advice highlights how firms fail accurately to plan for future expenditure changes. Prestwood’s Cashflow Fact Find Portal encourages clients to develop an understanding of how their spending will change over their lifetime and share this data with their planner. When clients engage with the planning process on a deeper level, this helps nurture a long-term relationship between client and planner.
The new Cashflow Fact Find Portal makes it infinitely easier for planners to:
- Ensure client data is correct
- Communicate effectively with their clients
- Capture comprehensive planning data
- Understand clients’ future plans, goals, and objectives
- Accurately model clients future spending plans
- Plan for the impact of death or disability
Meanwhile, the data-entry burden is passed on to the client. This means planners can focus on planning for and with their clients. “Since using the portal, we’ve seen a significant improvement in our workflow efficiency. Tasks that once took hours are now completed in a fraction of the time, allowing us to focus on delivering exceptional service to our clients. It’s intuitive, reliable, and a game-changer for our team and clients,” said Warren Shute MSc. CFP, Lexington Wealth.
Prestwood understand that different firms work differently, and that each client is unique. Truth® planners can white label their Cashflow Fact Find Portal, create bespoke invites for clients, and customise the content of the portal for each individual client.
Clients can create a secure account with two-factor authentication. The portal experience itself has been fine-tuned over months of beta testing and feedback from hundreds of consumers to enable in-depth data entry via an intuitive and slick user interface.
Clients can tell their planner not just about their current assets, income, and expenditure, but also their future plans, goals and objectives, and the lifestyle they want to achieve. This allows the planner to create powerful cashflow models projecting the client’s future position.
Rather than simply assuming data is correct, every addition, deletion, or change the client has proposed can be accepted, rejected, or flagged for the planner to challenge the client during their planning meeting.
Jim Cooper CFP™ Chartered FCSI, Director of Radcliffe Cooper
“The new Truth portal is groundbreaking. It guides clients to quickly check and return annual figures to us and being much more interactive has meant clients engage more with their plan and are returning more accurate figures. Client feedback has mentioned that it has helped highlight areas of expenditure where perhaps they are paying too much and have gone on to renegotiate contracts to make significant savings to their annual expenditure.”
The Cashflow Fact Find Portal is available exclusively to Truth® users.
NOTES TO EDITORS
1. Prestwood Software Ltd design and develop Truth® Software www.truthsoftware.co.uk – recognised as the pioneer of lifelong cash flow modelling in the UK.
2. Since 1984, Prestwood® has been developing comprehensive financial planning tools for many of the best Financial Planners. It was instrumental in the formation of the Institute of Financial Planning (IFP), which was subsequently acquired by The Chartered Institute for Securities & Investment (CISI).
Press Enquiries: Sandra Paul 07795810171