Financial planning software provider AdviserLogic has signed a deal with Morningstar Australasia for the provision of managed funds data.
AdviserLogic managing director Gundeep Sidhu said the move enhances the firm's dataset, allowing its increasing number of users to filter managed funds by platform.
"The Future of Financial Advice (FOFA) reforms and regulatory changes mean that advisers will need to allocate more of their time to continually demonstrating their value-add to their clients," Mr Sidhu said.
"AdviserLogic has an in-built framework streamlining the compliance and operational procedures and providing advisers with a compelling solution in the new operating environment."
Morningstar will provide AdviserLogic with comprehensive data for approximately 10,000 Australian managed funds, including unit prices and distributions, asset allocations, returns, fees, and platform/wrap availability.
The move follows AdviserLogic's statement in November last year that increasing demand for technology in the financial services sector continues to drive business growth.
Mr Sidhu also noted at the time that FOFA reforms and regulatory changes have also had a dramatic impact on the market - particularly on the independents - because firms recognise achieving greater efficiency means more time available to spend on compliance
AdviserLogic has built a compliance framework into the application, rather than have it as a separate component, helping to streamline business process.
