Financial advice firm deVere Group has unveiled new Paraplanning technology to be implemented worldwide.
The new system produces tailored advice documentation for new and existing clients and is adaptable if new providers enter the market.
Features of the technology include the ability to analyse clients' financial arrangements, calculate projections, make product recommendations and analyse risk and asset allocation.
A passive compliance function highlights any areas which need to be addressed such as clients' age, investment term and attitude to risk.
Although it will be used worldwide, advisers will only be allowed to select investment products available in their relevant jurisdiction.
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Mike Coady, deVere Group director, said the new system indicated the firm's developing business model.
He said: "After extensive market research, it was concluded that it wouldn't be possible to buy an off-the-shelf system that would be sufficiently adaptable for the requirements of our evolving business model, whilst simultaneously reflecting global industry and regulatory developments.
"Consequently, we decided to invest in developing our own bespoke Paraplanning technology which has been built to evolve in today's sophisticated financial market.
"We're confident that it will help our financial advisers to clearly document and concisely demonstrate why a recommendation they have made is suitable for a client and is how it is tailored to meet the client's financial objectives. It will provide clarity, peace of mind and protection to our clients; and we believe it will help drive the standards of international financial advice to a higher level."

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