Optimo adds SMSF modelling to platform

Optimo Financial has enhanced its paraplanning software Pathfinder Online to include self-managed super fund modelling capabilities.

Pathfinder, an online modelling platform, allows financial advisers to create projections for up to 20 years that cover tax, superannuation and the Age Pension.

Optimo Financial chief executive Hugh Bannister said for too long advisers have relied on cumbersome, multi-module programs and third-party paraplanning services.

"The self-managed super fund generation is demanding a comprehensive strategy consistent with the evolving super rules," Bannister said.

The new release, which is in beta phase, will meet demand on a 24/7 basis and enable financial advisers and paraplanners to produce comprehensive financial strategies for clients within minutes, he added.

Advisers can sign up for a free trial of the current system, including the SMSF beta release. Bannister said the next production phase will include modelling property within SMSFs.

In July last year, Pathfinder added a functionality to make goals-based advice more seamless for advisers. It uses an algorithm to develop a goal-orientated approach.

Bannister said at the time: "We believe there is a market niche for advisers whose clients are skeptical of the quality of advice offered to them by banks and other robo-advice platforms, whose focus is directing their clients into products."

Bannister added the tool, which has been continuously developed and refined, is capable of dealing with most situations and can be used while interacting directly with clients.

Established in 2009, Optimo Financial provides financial models and advisory services to banks, industrial companies and regulators.

The adviser simply enters the clients' details and their financial status and goals; no longer must the adviser fiddle around with software settings to make it work, he said.

Read more: Optimo FinancialSMSFPathfinder OnlineFinancial AdviserHugh BannisterFinancial adviceAge Pension
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