Infocus closer on fee consent solution launch

Queensland-based financial planning licensee group, Infocus has moved a step closer to the full-scale implementation of its fee consent solution, Platformplus SIGN.

Infocus managing director, Darren Steinhardt showcased the solution at Financial Newswire’s Platforms, Wraps and Advice Technology Conference in May and took the implementation process a step further by conducting a workshop with 20 key stakeholders.

The objective of the solution is to simplify the fee consent process for financial advisers by providing a single link between clients, advisers, CRM systems and multiple product providers.

Steinhardt said the application allows a client to use a single digital signature to verify their fee consent, to be shared seamlessly in real-time with their adviser and most importantly, their product providers.

“To date, any such solutions have been developed by product providers in silos, often going over budget, over timeframe, or indeed have failed entirely,” he said.

Steinhardt said that Infocus had a path to clearing the initial cyber and integration hurdles, but acknowledged it was early days still and an enormously bold undertaking for the organisation.

He said Infocus was aiming to make significant headway over the next quarter.