Technology firm EV has launched what it describes as a “game-changing” Financial Planning tool.

The tool helps Financial Planners deliver a “complete advice journey” to clients.

The EVPro tool is made up of five integrated modules which allow Financial Planners to assess, build, stress-test, review and solve their clients’ financial plans within one solution.

The three core modules are ‘Goal’, ‘Invest’ and ‘Risk’. The two bolt-on modules are ‘Solver’ and ‘Review’.

'Risk' addresses the client’s attitude to risk for income and growth, as well as appetite for ESG.

'Goal' approaches cashflow planning, including capability for loss.

'Invest' tackles portfolio risk assessment, switching and replacement business.

'Review' carries out a bulk analysis of client planning. It is available as a bolt-on to the EVPro Goal module and allows Financial Planners to analyse, amend and communicate client plans as well as helping them to understand the robustness of their overall advice business.

'Solver' is EVPro’s automated functionality to “solve client problems more efficiently”. It is available as a bolt-on to both the Invest and Goal modules. EV said the combination allows advisers to stress test client plans against a range of scenarios and ensure they are robust.

They can also act as stand-alone tools to complement an adviser’s existing advice process.

EV said the bolt-on 'Solver' and 'Review' modules are the ones which received the most attention and stood out to advisers in beta testing.

Ann-Marie McElhinney, head of adviser channel at EV, said the Solver and Review modules are “real game-changers” for the advice market.

She said: “The FCA’s Consumer Duty is causing firms to fear the Financial Ombudsman will regulate with hindsight.

“With EVPro Review advisers and firms have the evidence at their fingertips to demonstrate that they have done everything in their means to ensure their clients are on track. And with EVPro Solver we’ve automated Financial Planning with the click of a button.

“Our stress tests can enable advisers to have the right conversation with their clients there and then. These two modules combined with the power of the three core EVPro modules takes advice journey support to another level.”