InvestmentLink, Midwinter unveil integration

12-Oct-2016

By Daniel Paperny

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InvestmentLink and Midwinter Financial Services have signed an agreement under which Midwinter will expand its data offering to provide more holistic and engaging software solutions to adviser clients.

InvestmentLink’s RealTime data service (ILRT) will boost the range of data feeds planners on Midwinter’s AdviceOS platform can access, adding client-authorised feeds to the existing 600 direct data feeds already available.

“We see ILRT as filling a major gap in the market,” InvestmentLink chief technology officer Wayne Robinson said.

“Midwinter now has access to data that has been traditionally hard to harness, such as individual bank, mortgage, credit card, loan, term deposit, industry superannuation fund, self-managed superannuation fund (SMSF) and direct share accounts.”

Midwinter would be the first financial planning software company to use the ILRT technology.

Speaking to financialobserver, Midwinter managing director Julian Plummer drew a distinction between traditional data feeds – provided direct from the platform provider – and client-authorised feeds made possible through ILRT, which acts on behalf of the client to download and integrate the information.

“ILRT is a game changer because it dramatically increases the breadth and the depth of the information within AdviceOS,” Plummer said.

He said ensuring a smooth flow of data into the modelling system behind Advice OS was important as it allowed planners to make “data-led decisions”.

ILRT would allow Midwinter to gather information for individual household members, helping users of the AdviceOS platform to model the total portfolio perspective of the household, he said.

“This is important because we have noticed that household structures are becoming more complex, with the modern household having any number of individuals, joint accounts, SMSFs, companies and trusts,” he said.

“With better data comes better decisions and the hope is that planners can more easily and quickly determine the best outcome for their clients.”

He noted Midwinter was preparing to announce a number of major integration milestones with third-party add-ons, particularly around the SMSF and client portal spaces, which had been a direct result of user requests.

“We are extremely excited to be filling this demand for AdviceOS users [and] we look forward to making these integration projects public in the coming months,” he said.

Midwinter is expected to roll out the second stage of its HTML5 conversion project, under which AdviceOS’s home screen and needs analysis module will deploy HTML5 technology, over the next month.

“We see the new home screen as a major step forward in the configurability of AdviceOS,” Plummer said.

“Every different role within an organisation will have its own configurable home screen where the user will only see information that is relevant to them.”

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