iFactFind Company Profile

Background

Overview

iFactFind is an Australian fintech company specializing in digital solutions for financial advisers, focusing on enhancing client data collection and management. Established in 2018, the company has developed a comprehensive online platform that streamlines the fact-finding process, aiming to improve efficiency and accuracy in financial planning.

Mission and Vision

The mission of iFactFind is to revolutionize client data collection by providing a secure, client-centric portal that fosters effective collaboration between advisers and clients. The vision is to set a new standard in financial planning by offering a digital solution that enhances client engagement, ensures compliance, and improves operational efficiency.

Primary Area of Focus

iFactFind's primary focus is on developing digital tools that facilitate the collection, management, and analysis of client information for financial advisers. The platform is designed to support holistic financial planning by capturing detailed financial and life goals, thereby enabling advisers to provide personalized and comprehensive advice.

Industry Significance

In the financial technology sector, iFactFind plays a pivotal role by addressing the inefficiencies associated with traditional paper-based fact-finding methods. By digitizing the process, the company contributes to the modernization of financial advisory practices, promoting greater accuracy, compliance, and client satisfaction.

Key Strategic Focus

Core Objectives

• Enhancing Client Collaboration: Developing tools that enable seamless interaction between advisers and clients, leading to more effective financial planning.

• Ensuring Compliance: Implementing features that support adherence to regulatory standards, including robust data management and client consent processes.

• Improving Operational Efficiency: Streamlining data collection and management to reduce administrative burdens and accelerate service delivery.

Specific Areas of Specialization

• Digital Fact-Finding: Creating online questionnaires that gather comprehensive client information efficiently.

• Client Portals: Providing secure platforms where clients can access and update their financial information.

• Integration Capabilities: Ensuring compatibility with other financial management tools to facilitate a cohesive advisory process.

Key Technologies Utilized

• Cloud Computing: Utilizing cloud infrastructure to ensure scalability, reliability, and security of the platform.

• Data Encryption: Employing advanced encryption methods to protect sensitive client data.

• API Integrations: Developing APIs that allow seamless integration with various financial planning and CRM systems.

Primary Markets Targeted

iFactFind primarily serves financial advisory firms in Australia, with recent expansions into the Irish market. The platform is tailored to meet the specific needs of financial planners in these regions, supporting them in delivering personalized and compliant financial advice.

Financials and Funding

Funding History

Specific details regarding iFactFind's funding history, including total funds raised and recent funding rounds, are not publicly disclosed. The company operates as a private entity, and financial information is not readily available.

Notable Investors

Information about individual investors or venture capital firms backing iFactFind is not publicly disclosed.

Utilization of Capital

While specific details are not available, it is reasonable to infer that the capital has been utilized to:

• Product Development: Enhancing and expanding the platform's features and capabilities.

• Market Expansion: Entering new markets, such as Ireland, to broaden the customer base.

• Operational Scaling: Building infrastructure to support a growing user base and ensure service reliability.

Pipeline Development

Key Pipeline Candidates

iFactFind's development pipeline includes:

• Mini Fact Find: A pre-meeting questionnaire designed to gather essential client information efficiently, aiming to reduce the time spent on comprehensive fact-finding and improve the initial client meeting experience.

• Integration with Financial Planning Tools: Ongoing efforts to integrate with various financial planning and CRM systems to enhance the platform's utility and appeal to a broader range of financial advisers.

Stages of Development

The Mini Fact Find feature has been developed and is available for use. Integrations with other financial planning tools are in progress, with some already implemented, such as the integration with Voyant's AdviserGo platform.

Target Conditions

The primary focus is on improving the efficiency and effectiveness of the financial advisory process, rather than targeting specific financial conditions.

Anticipated Milestones

• Enhanced Integration Capabilities: Expanding the number of integrations with other financial tools to provide a more comprehensive solution for advisers.

• User Growth: Increasing the adoption of the platform among financial advisory firms in existing and new markets.

Technological Platform and Innovation

Proprietary Technologies

• Digital Fact-Finding System: A proprietary system that digitizes the traditional fact-finding process, allowing for efficient and accurate data collection.

• Client Portal: A secure, client-centric portal that facilitates collaboration between advisers and clients.

Significant Scientific Methods

• Data Encryption Protocols: Implementing advanced encryption methods to ensure the security and confidentiality of client data.

• API Development: Creating APIs that enable seamless integration with various financial planning and CRM systems.

Leadership Team

Key Executives

• Dr. Paul Moran – CEO: With over 30 years of experience in financial planning, Dr. Moran co-founded iFactFind to address the inefficiencies in client data collection.

• Sahil Matta – CTO: A seasoned database architect with 25 years in the field, Matta co-founded iFactFind, focusing on developing the platform's technical infrastructure.

Key Contributions

• Dr. Paul Moran: Led the vision and strategic direction of iFactFind, leveraging his extensive experience in financial planning to create a solution tailored to the needs of financial advisers.

• Sahil Matta: Directed the technical development of the platform, ensuring robust and scalable architecture to support the company's growth and integration efforts.

Competitor Profile

Market Insights and Dynamics

The financial technology sector, particularly in the realm of financial planning tools, is experiencing significant growth. Advisers are increasingly seeking digital solutions to enhance efficiency, ensure compliance, and improve client engagement. This trend is driving innovation and competition among fintech companies offering similar services.

Competitor Analysis

• Worksorted: Offers a CRM system for financial advisers, focusing on workflow and revenue management. iFactFind has integrated with Worksorted to provide a more cohesive solution for data management.

• Voyant: A global financial planning technology company that has integrated iFactFind's client data analysis technology into its AdviserGo platform, enhancing the financial planning process for advisers.

Strategic Collaborations and Partnerships

• Integration with Voyant's AdviserGo: This partnership allows for seamless data transfer between iFactFind and Voyant's financial planning tool, reducing manual data entry and improving the accuracy of financial plans.

• Collaboration with Worksorted: The integration with Worksorted's CRM system enables two-way data synchronization, streamlining the advisory process and reducing administrative tasks.

Operational Insights

Strategic Considerations

iFactFind's strategic focus on integration and collaboration with other financial technology providers positions it as a central hub in the financial advisory ecosystem. By offering a platform that seamlessly connects with various tools, iFactFind enhances its value proposition to advisers seeking comprehensive and efficient solutions.

Competitive Advantages

• Comprehensive Data Collection: The platform's ability to gather detailed client information supports holistic financial planning.

• Client-Centric Design: The secure client portal fosters collaboration and trust between advisers and clients.

• Integration Capabilities: Seamless integration with other financial tools reduces manual data entry and errors, improving operational efficiency.

Strategic Opportunities and Future Directions

Strategic Roadmap

• Expansion into New Markets: Building on its success in Australia and Ireland, iFactFind aims to enter additional international markets, adapting its platform to meet local regulatory and market needs.

• Enhancement of Integration Features: Continuing to expand integrations with other financial planning and CRM systems to provide a more comprehensive solution for advisers.