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Commercial brokers who are confused by a client’s corporate family tree can turn to a new iPad app for help.
The free FinSuite app, called Group, creates visual diagrams that illustrate the relationships between a group of entities, including directorships, shareholdings, trustees and beneficiaries.
Director Bart Jesman said Group would make it easier for brokers to understand their clients and therefore meet their compliance requirements.
The app can be used online or offline and can easily be shared with other Group users, he told The Adviser.
“The application also allows for a one-page summary of the group's key contacts, background, goals, financial summary, product mix and cross-sell opportunities,” he said.
“The user can then create a PDF of the information to provide their bankers with their commercial loan submission.”
Mr Jesman said some of the big four banks are familiar with Group’s format because they have been using earlier iterations of the app.
Group has been downloaded more than 200 times, according to Mr Jesman.
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