Sentry Group, an independently-owned financial planning group in Australia, has struck a joint venture arrangement with fintech startup Intiger Asset Management to develop bespoke solutions for its advisor network.
Under stage one of the arrangement, Intiger Asset Management – a subsidiary of the Intiger Group – will build a centralised back office administration and para planning solution for the advice group.
Sentry Group CEO and chairman Murray Hills said: “We are constantly seeking advances in technology and process solutions for our advisers that they can utilise to improve operational efficiency, productivity, profitably and the provision of the very highest standards of compliant financial advice and client service.”
In addition, the advice group will have exclusivity as Intiger’s preferred licensee in the non-aligned sector during the term of the agreement.
“With significant margin pressures being experience throughout the industry I’m confident our advisers will benefit immensely from the Intiger offering which will future proof their businesses by significantly bolstering their back office operational frameworks and in doing so enhance their positions as professional client focussed advice practitioners,” Hills added.
Intiger chair Mark Rantall said: “Sentry is a large dealer group and this enables Intiger to demonstrate how we can industrialise back office efficiencies to enable financial advisers to deliver advice in a more efficient and cost effective way to more Australians."
Sentry group executive director and head of business solutions David Newman said that the first deliverable would be a paraplanning service to dovetail into the group’s operational frameworks of advisors, followed by a pilot program that is expected to be completed by early 2017 and rolled out to the Sentry adviser network thereafter.
Perth-based Intiger specialises in large scale global change programs, offshore processing and cost reduction strategies. LiLLY’, the proprietary software platform developed by the company, digitises and automates core components of the financial planning process.
Intiger chairman Mark Rantall said: “Intiger is excited at the prospect of working with Sentry to develop efficiencies, management data and cost savings to Sentry practices. Sentry is a large dealer group and this enables Intiger to demonstrate how we can industrialise back office efficiencies to enable financial advisers to deliver advice in a more efficient and cost effective way to more Australians.”