Kiama-based financial technology firm Padua Financial Group (PFG) has launched a new online advice request system.

Roma Online is aimed at dealer financial planning practices and independent financial advisors and has been designed in response to the planning industry’s continuing focus on raising professional standards.

The system is a simple-to-use and affordable service which will enable financial advisors to submit requests through an online platform and assists financial advisors in producing advice, while ensuring dealer group and licensee compliance requirements are met.

With the aim of improving compliance measures and providing high quality, cost-effective financial advice, Roma Online can receive advice requests ranging from basic to comprehensive, with SOA turnaround service levels of five business days.

PFG Managing Director Anne-Marie Esler stated that the firm had the duty of responding to a technologically advancing workplace.

“Financial advice technology firms have a responsibility to respond to increased compliance requirements, by developing software that assists and supports both financial services licensees and financial planning practices,” she said.

In addition to Roma Online, PFG will release Roma Cloud to advisors across Australia later this year. Developed as a direct competitor to  Xplan’s Xtools+, Coin’s Strategy and Midwinter’s AdviceOS, Roma Cloud is next generation financial software which will enable advisors to produce strategic advice using a comparative approach that will retain existing and recommended client scenarios and assist financial advisors.

Esler is confident in the release of PFG’s latest system launch and the possible scope for engaging the needs of the financial service industry.

“Padua has designed Roma Online to enable financial advisers to request high quality product replacement and strategy advice and, importantly, to demonstrate the value of that advice to their clients.”