Fee disclosure app developed

Trynkett believes it has “trumped” major industry software developers with its release of the SmartOPTS App, according to Peter Morrison-Dowd, consulting adviser at Trynkett.

“SmartOPTS has been designed to take the compliance of fee disclosure and opt-in and turn it into a client value position that highlights the work that advisers do behind the scenes for their clients,” the announcement read.

“The company believes that if all a statement does is show cost, be prepared to lose clients who wonder what they are paying for.”

Morrison-Dowd told ifa the app offers advisers the “highest level of engagement” they’ll have with a client, without increasing labour costs.

SmartOPTS is part of Trynkett’s WealthMAP solution, developed over four years with input from 370 advisers and 1,500 of their clients.