Fidelity International has joined forces with Canadian fintech company Conquest to launch the latter’s financial planning software dubbed Conquest Planning to the independent advice market in the UK.
The London-based financial services company is the exclusive distributor of the software in the UK.
Conquest Planning uses data and artificial intelligence (AI) to provide better insight to financial advisers into the changing circumstances of clients. This enables advisers to model recommendations in real-time and immediately understand how they could affect the goals of their clients, said Fidelity.
The solution is said to process data in different ways to quickly build and compare various plans. As a result, financial advisers will get more time to spend with their clients.
Fidelity Adviser Solutions head Jackie Boylan said: “Conquest Planning” has the potential to transform the way advisers engage with their clients, and ultimately the way they do business. The software offers an innovative approach to financial planning at the click of a button, helping advisers to build plans faster and more efficiently.
“By creating a consistent framework for delivering robust financial plans, it improves the efficiency of client reviews and provides advisers with the opportunity to help more people benefit from advice and potentially engage with new clients, as well as review how they operate as a business.”
Conquest Planning features a digital assistant for supporting the advice process in various ways.
It creates client profiles by incorporating information about their priorities, purposes, and risk tolerances.
The financial planning software offers analysis of plan data. It is claimed to apply the best practices around financial strategies, client sentiment, and business intelligence to provide prioritised strategies to clients.
It is also said to give advisers a summary report of their recommendations to share with clients. This enables advisers to help enhance the overall experience of providing financial advice.
UK intermediaries can gain access to the Conquest Planning software through Fidelity Adviser Solutions.
Conquest president and CEO Mark Evans said: “After tremendous early success, modernising advice delivery for over 15,000 Advisers in Canada, we are excited for the opportunity to bring ‘Conquest Planning’ to the UK. When building Conquest, the ability to support multiple geographies was a priority as access to financial advice is a global challenge.
“Our AI approach to advice provides Independent Financial Advisers with a powerful, yet intuitive platform to efficiently build and manage financial plans. We are excited to partner with market leader, Fidelity Adviser Solutions, to modernise the practice of advice delivery in the UK.”
