Dynamic Planner has launched Product and Platform Research, ‘fit for the future tech’ which it describes as giving advisers the ability to research investment and retirement products, while meeting the evolving needs of clients and regulation.
Part of Dynamic Planner as standard, Product and Platform Research is available to Dynamic Planner users from today and comes with all the benefits of working seamlessly within one system, avoiding the risks of re-keying and miscalibration.
The firm writes that the technology powering Dynamic Planner’s Product and Platform Research is designed in line with PROD and Consumer Duty regulatory requirements, putting clients at the heart of the process, and has data sourced direct from providers across the UK market. It simplifies what can be a vast task, enabling advisers to quickly identify those features that can lead to good client outcomes, the firm says.
Rather than ‘scoring’ products or providers by the number of features, Dynamic Planner’s Product and Platform Research is designed to empower the adviser with all the information necessary to determine which matches the need and preferences of the consumer. Selection criteria and research can be saved and matched to a firm’s target market. At a firm level, advisers can manage their centralised propositions, segmenting clients into defined target markets and tying product research to them.
Chris Jones, Proposition Director at Dynamic Planner says: “The world of financial planning and regulation has evolved more than ever this century. Yet in the area of research, firms have been stuck with technology of the past, faced with as many as 300 product features and the challenge of matching and explaining them to a client. We asked advice firms what we could do to help them navigate this maze of features. They told us they wanted clarity over complexity, a simplified process and something different to what they had used before.
“Working from a blank canvas, we have been able to create technology that is fit for now and the future and guided by PROD and Consumer Duty. Dynamic Planner’s Product and Platform Research puts clients at its heart, simplifying the process and efficiently highlighting product features which can be demonstrated to lead to good client outcomes. It provides an unblinkered view of the market with all information, sourced directly from providers.
“We’ve gone even further to meet the needs of the financial planning process and built the ability to segment clients into defined target markets, tying product research to them to consistently deliver good outcomes. Along with potential cost savings, it has the key benefit of being part of Dynamic Planner’s one system, enabling firms to save time, money and work seamlessly in one place.”