Defaqto launches new reporting capability for financial planning tool

Defaqto has announced the launch of a multi-product suitability report writing capability for its end-to-end financial planning tool, Engage Core.

At the start of 2019, the financial information business launched its suitability report templates within Engage Core in collaboration with Eversheds Sutherland – and Defaqto has announced this capability has now been extended with the addition of multiple product suitability reporting.

The new feature automatically pulls through multiple recommended products and investments within one report.

Engage Core’s suitability reporting capability incorporates multiple research recommendations into one comprehensive report, which Defaqto said will make it easier for advisers to present research and recommendations to their clients.

Defaqto CTO, Paul Dagley-Morris, commented: “Our suite of suitability reports templates is designed to help advisers meet their regulatory obligations. Following some market listening, we identified the opportunity to expand our capability to allow advisers to pull their product research and recommendations through into one report.

“This is an important step in Defaqto’s mission to provide integrated technology that supports advisers throughout the entire financial advice process, from risk profiling to sourcing a suitable product or investment and the consequent reporting.

“The simplified navigation and automation provided by Engage Core reduces complexity in the suitability report writing process, saving time and creating further efficiencies for time-strapped advisers. Additionally, the reports are fully customisable ensuring that advisers can always create a bespoke suitability letter in line with the FCA requirements.”

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