Novia unveils life-planning tool

Novia is linking up with Voyant to launch a software tool enabling advisers to provide a US-style life-planning service.

The new system, available to Novia's users at a 40% discount, mirrors financial planning in the US with its focus on key life stage analysis, long term projected cash flows and simulation of "what if" scenarios.

Novia says its data gathering, analytical and reporting capabilities provide one of the best packages around. Applications include charts showing cash flow, assets, expenses, debts and net worth, along with real-time analysis of current investments.

When using the system, advisers can select the same asset allocations as Novia's planning tools.

Novia CEO Bill Vasilieff says: "The Voyant planning tool allows the adviser's client to understand their lifetime financial needs, goals and aspirations better.

"By being able to select the same growth assumptions as used in the Novia tools, advisers can get consistency when progressing to implement their investment recommendations on the Novia wrap."

Bob Freeman, COO of Voyant UK, says: "Our experience in the US has shown that getting clients engaged in a collaborative financial planning process really helps to create a ‘buy in' to the investment decisions."

The tie-up with Voyant comes on the back of the wrap provider launching Model Portfolio Evaluator, a risk analysis tool, earlier in the month.