Wealth Management Expert Launches Income Protector and Quiet Adviser

3Q Solutions, the wealth management and financial planning technology expert, has announced the launch of its ‘Income Protector’ and ‘Quiet Adviser’ modular software solutions for financial services organisations and independent financial advisers.

Both solutions enable financial businesses and IFAs to manage multiple wealth portfolios and develop closer, more profitable relationships with their clients. Tailor-made to be easy to use and responsive to client needs, these products seamlessly integrate real-time client details and market data into a clear and compelling graphic representation that helps clients to make informed decisions about the financial solution that best suits their specific situation.

Income Protector
Income Protector enables the financial adviser to analyse a client’s balance sheet and then recommend the most effective course of action should their income stop. By illustrating the loss of income on assets held, Income Protector also highlights the ensuing risk of asset and lifestyle erosion if the recommended course of action is not taken.

In a recent report , Datamonitor made the following observations about Income Protector, “3Q’s unique proposition is its application of behavioural science, rather than simply fulfilling the role of a software provider. It has developed a ground breaking method of communicating the need for income protection to customers.”

The product takes a markedly different approach to existing applications in the advisory marketplace. Instead of asking how much cover the client needs, Income Protector recommends how much cover the client should get. As such, the onus is placed on the adviser to provide information rather than the client, thus making for a less interrogative and more constructive relationship.

Income Protector is designed to be both easy for the adviser to manage and a decision-aiding visual tool for the client. The product analyses the client’s entire balance sheet and their desired lifestyle costs, and through an inbuilt, sophisticated rules engine, translates the information into detailed, but easy to understand, graphical analysis. This allows the client to review the options available and to make an informed decision, for example, to reduce their lifestyle costs on an ongoing basis to prevent asset erosion before retirement.

Quiet Adviser
Quiet Adviser provides a ‘holistic health check’, enabling the adviser to present a comprehensive overview and recommendations on the client’s asset growth and retirement provisioning. Via a user-friendly interface, the client’s financial objectives are ascertained and their overall tolerance to risk is established using a form of psychometric testing. This information allows Quiet Adviser to generate coherent short, medium and long-term agendas for future discussion between the adviser and the client about how investments and assets can continue to be managed profitably.

As with the Income Protector product, Quiet Adviser is a bespoke product that can be adapted for any organisation, such as by aligning certain economic indicators with the client’s way of thinking. Again, the Quiet Adviser formulates the information inputted by the adviser into a unique graph demonstrating the areas that need to be altered within the customer’s personal financial plan to ensure, for example, financial independence.

“The key to our products’ success is that complicated financial data is transformed into graphics which are easy for the adviser to explain and the customer to understand,” said John Finan, chairman of 3Q Solutions and ex Winterthur Life UK chairman and chief executive. “We demystify the financial labyrinth for clients in order to help them take stock of their finances as they answer our three key questions: Where are they now? Where do they want to be? And, most importantly, how can they get there?”

Ray Young, CEO of 3Q Solutions, has commented, “Asset and lifestyle erosion are very real problems faced by many individuals – a high-paying job today doesn’t guarantee a wealthy future if savings and investments are not being properly managed. And an unexpected change in circumstances can really knock people for six if they haven’t prepared financially. Our products provide information that helps advisers to encourage clients to make potentially life-changing decisions.”

Both Income Protector and Quiet Adviser provide financial organisations and IFAs with a seamless, bespoke and easily navigable system, common to all of 3Q’s products. By providing advisory information as a series of easily comprehensible graphs, the client is empowered to make financial planning decisions based on information they understand visually. Income Protector and Quiet Adviser are also both modular, which means that advisers can choose to specialise in these specific areas of wealth management without having to purchase and deploy an unnecessarily complex and expensive financial planning system.

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Press Contact for 3Q Solutions
Karen Whelton,
Tel: +353 1 4100 852
Email: kwhelton@3q-solutions.com

About 3Q Software Solutions
Focused on the end-client, 3Q Solutions builds wealth management and financial planning products and capability that generate new ways to maintain and increase client satisfaction and trust from within high net worth and mass affluent markets.

3Q Solutions has facilitated financial organisations to increase their revenue streams but also become more client-centric and provide holistic wealth management to their clients rather than continuing on a product pushing strategy.

For more information, please visit us at www.3q-solutions.com.