Tenet backs holistic view with PlanLab access

Support service provider Tenet is supporting a move towards holistic financial planning among its adviser members by offering them access to PlanLab financial planning software.

Members of Tenet adviser arm IFA Professional will have access to PlanLab through a new online financial planning platform.

PlanLab allows advisers to demonstrate alternative financial strategies to clients in order to educate and motivate them to make plans for the future.

The intention is that PlanLab advisers will be able to engage more fully with clients and create full financial plans by analysing their needs and goals with cash flow models and ‘what if?’ features.

Reports generated by PlanLab analyse a client’s future cash flow and advisers can choose a report that best suits their clients.

Users of PlanLab only pay for what they use on a monthly basis and IFA Professional advisers will benefit from a discounted rate.

Tenet is hopeful that the pay-as-you-go aspect of PlanLab will enable advisers to offer financial planning services to the mass market rather than an exclusive, wealthy market.

Keith Richards, group distribution and development director at Tenet, said: ‘PlanLab offers an effective client-centric financial planning tool which advisers can use to engage with a wide range of clients about their future.’