Dynamic Planner has begun a three-year, £5m programme of upgrades with a new Mifid II reporting tool for advisers.
The first release in the Dynamic Planner Elements project launched today focuses on helping advisers with Mifid II charge disclosure to clients, including graphical charting of fund performance.
Dynamic Planner has also rolled out two-way integration with Intelliflo’s Intelligent Office system as part of the first batch of upgrades, as well as greater ability to share workflows with paraplanners and other technical support staff with smartphone-led user experience.
Chief executive Ben Goss tells Money Marketing: “If you talk to firms over the last 18 months like we have, they will tell you that meeting those new suitability standards is top of their list of challenges.
“The economics of offering on going suitability is really tough, so the ability to automate a large part of that process is a huge step forward for firms.”
Goss says the remaining upgrades over the next few years will be dependant on feedback from adviser users of the system through focus groups and other input.
He says: “A year ago we made the decision that we wouldn’t just solve the Mifid problem, that we would tackle the Mifid compliance challenge at the same time as technology challegnes, helping firms to really demonstrate the value they deliver in the context of what is an uncertain time.”