The TRUTH™ is out there, says Prestwood

Prestwood Software has started offering its relaunched TRUTH™ financial planning software to the entire adviser market.

Advisers can use the stand-alone program to conduct a lifetime cashflow model. The software helps determine a client’s goals, formulate a plan to ensure it is reached or find out whether the client will run out of money.

It does this in three stages through lifestyle planning, financial planning and identifying the most appropriate products.

Stourbridge-based adviser Paul Armson of Falcon Financial Solutions, who is heading up TRUTH’s sales and marketing, said advisers could charge fees for all three steps. ‘The software demonstrates to a client what their financial future looks like, and takes the focus off products and instead uses a whole financial planning process.’

The software was developed by Paul Etheridge, a veteran fee-based adviser and founder of the Institute of Financial Planning (IFP).

TRUTH is a simplified version of the original Prestwood software which is still available but includes back office and investment programs that proved unpopular with some advisers.

The new version was tested with more than 110 IFP member firms. According to Armson, 95 of those firms have applied for the software.

The tool was launched to the entire IFA market on 1 March and costs £197 per month plus VAT.

Details at www.truthsoftware.co.uk.