Thomson Reuters has released a new proposal generator for financial advisors called PropGen. The software is meant to help advisors create business pitches for prospective and existing clients in a few minutes.
One of the advantages of PropGen, Thomson Reuters said at a roundtable discussion on Thursday, April 29, is its ability to link up with the company’s wealth of financial data and weave it quickly into a proposal, while integrating with the Thomson ONE Wealth Management system.
PropGen allows for the creation of multi-asset proposals that account for the holistic portfolio of an existing or potential client, not just those assets that currently reside within a firm, Thomson Reuters says. This allows advisors to produce proposals that meet the specific needs of a customer, but also makes sure those recommendations meet a firm’s compliance requirements.
At the roundtable discussion, Eric Jones, global head of Wealth Management Solutions at Thomson Reuters, said it took 18 months to develop the advisor tool. The goal was to simplify the proposal-generating process based on advisor feedback the company had gathered. Jones said that PropGen is very layered, with checklist disclosure forms, and the ability to generate a proposal as a pdf file for e-mailing.