Having a software which takes care of all the back office work as well as prepare financial plans is something every advisor is looking for. To address this need, Mumbai based Futurewise, a financial planning software firm, has revamped its earlier offering ‘futureadvisor’ to make it a more complete package which offers a host of services under one roof.
Ronak Hindocha, Founder of Futurewise, claims that his online software provides a one-stop solution for IFAs, NDs and SEBI RIAs. To help advisors manage multiple tasks, the software offers reporting, financial planning and CRM. “What differentiates our software is that it is a complete package which takes care of a lot of things. The existing software products in the market don’t provide a comprehensive solution for all the needs of advisors,” claims Ronak.
Ronak says that his team has designed this software to comply with SEBI regulations. In fact, he claims that his software can also be used by SEBI RIAs. “Distributors have to do risk profiling, record advice, make compliance reports and many more things which our software handles seamlessly. The software is built keeping in mind the compliance requirement of SEBI RIAs,” says Ronak.
Ronak says that his software is also useful for national distributors who work with sub-brokers. “It is a great way to stay on top of operational activities of sub-brokers. You can assign tasks to your team members, define sub-tasks, set due dates, which can be useful for NDs,” says Ronak.
Going ahead, Ronak plans to allow transactions and build a mechanism for IFAs to charge their clients a fee in his software.
