New paraplanning software launches

ProductRex, due to launch this month, aims to solve many of the “frustrations” advisers have with the “expensive, inaccurate and hard to use” financial planning software currently on the market when it comes to presenting product research in an SOA, according to managing director Nick Topham.

“Over the years I heard time and time again about the problem of collecting and presenting the data-heavy tables in an SOA – replacement of product advice and the asset allocation tables,” Mr Topham said.

“I never understood why the incumbent software providers made it so hard, and put so little attention into quality of data.

“One of the primary development focuses was on extreme ease of use, as well as providing the average user a straightforward way to exactly mimic their existing branding when outputting their product recs.

“The quality of our data is second to none, being based on sophisticated and automated QA processes, rather than laborious and error-laden manual checking.”

Mr Topham, who worked at AdviserLogic for seven years and ran his own paraplanning agency prior to developing ProductRex, said the new software would be free to use for advisers.

“We’ve moved away from a SaaS subscription model because I don’t think it’s appropriate or necessary in 2021,” he said.

“ProductRex is free to use for all advisers, paraplanners and support staff, and is instead funded through in-app sponsors. I’m stoked with the fantastic sponsors already on board for launch, who share the same values as us in helping reduce the cost of advice.”

Want more content on technology and innovation? Register here for the Adviser Innovation Summit 2021.