PROFIDA, the technology company specialising in financial needs analysis (FNA) and practice management systems, has integrated with a financial services group, which has strategic partnerships with some of South Africa’s top independent financial planning specialists.
Through a strategic partnership programme financial planning firms receive advice on the development and implementation of financial plans and investment strategies.
High-calibre financial advisory firms, who are strategic partners, are also provided with clients’ portfolio data, including transaction histories in electronic form. Financial planners using PROFIDA are able to import this data.
According to Daniel Putra, MD of the PROFIDA Team, “The advantage of this integration is that transaction histories can be generated for each investment account. These can be seamlessly processed for the financial needs analysis process, as well as for PROFIDA reports like portfolio schedules and quarterly investment reports.”
PROFIDA’s Quarterly Investment Report automatically computes the values, net annual yield (or internal rate of return) and growth per quarter, as well as performance, measured in percentage terms, for each investment account.
Previously, policy and investment portfolio data had to be requested via websites or email before being manually loaded on to PROFIDA. But seamless download and direct interface facilities within PROFIDA open the way to retrieve portfolio information with just a few clicks of the mouse.
Another advantage is that the investment portfolio of an entire client base can be easily imported, making monthly investment reporting for the full client base an efficient process.
PROFIDA will be exhibiting at the 2014 conference of the Financial Planning Institute (FPI) being held on 25 and 26 June at the Sandton Convention Centre.
“We’re pleased to announce this integration and are excited about introducing PROFIDA’s new cash flow analysis and forecasting facility to interested delegates at the conference,” said Putra.
The new facility assists wealth managers and their clients with planning for retirement or other life changing circumstances by considering the proportion of their savings that will be required for growth and for income. Different scenarios can be tested, while graphs vividly depict capital growth and depletion.
PROFIDA is the only FNA system to offer a desktop, web-based and combined solution, setting the pace as a technology leader in the competitive financial needs analysis software market.