Unlocking the Power of Custom Software for an Independent Financial Planner

CUSTOM SOFTWARE CASE STUDY

Written by Chris Picard

The Client

New Way Financial is an independent financial company specializing in full-picture financial planning. They help not only with retirement planning but also with budgeting, debt paydown, etc.

The Problems and Pain Points

Founder Eric has a set of industry-standard tools, such as websites and applications, that do not meet all his needs, including:

• Not generating portions of the financial plan requires him to develop them manually; this setup costs him multiple hours per client.

• Requiring him to copy-paste data to many different applications.

• Not providing a customer-facing solution to manage financial plans.

Eric asked our company to help him build custom software that would augment and, in some cases, replace his existing toolset.

The Solution

Our first step was listening to the client's needs and budget. In the case of New Way Financial, their initial product budget was limited, but over time, they could invest more money to have more features.

They requested a limited feature set. We scoped down the initial delivery to provide one of the four desired main features.

We also provided a PDF solution vs. a web interface to enter client information.  

The Results

• It is a simple program completed in under 50 hours of development time.

• Eric predicts the first phase will save him at least 3 hours of onboarding work per client.

• With an average of 50 clients per year, this program will save him 150 hours of onboarding time.

• He says he would have missed out on about 15 additional clients per year without this product.

• Finally, he predicts it will pay for itself in extra revenue in under 1 year.

Our Unique Approach

Power Up Software’s approach dramatically reduces the amount of code that has to be rewritten when moving into future phases. Typically, when software features are broken into phases, code cannot be reused across the stages.

Learn more about our process for custom software or contact us directly.