Xplan tops Investment Trends report


By Elizabeth Somerville

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IRESS-owned Xplan had been rated as the top Australian financial planning software application for the eighth consecutive year, according to an Investment Trends report.

The “2014 Investment Trends Planning Software Benchmarking Report” found Xplan achieved a score of 94 per cent, the highest of any financial planning application in the 10 years since the report began.

It was ranked first in the five categories of client management, advice provision, portfolio management, practice operations and integration.

“Xplan is a world-class comprehensive planning application,” Investment Trends advisory board member Ian Webster said.

“The quality of Xplan and other Australian planning applications in the benchmark is testament to licensees’ investment in technology and Australian software engineering talent.”

IRESS chief executive Andrew Walsh said following the result, the firm would continue to improve Xplan’s service offering and would focus on providing reliable, trusted and innovative solutions to meet the needs of its clients.

“The past 12 months have been no exception with a significant number of enhancements to improve the access and functionality of Xplan for advisers and their clients and licensees,” Walsh said.

Rubik-owned Coin and AdviserNetgain followed Xplan, rounding out the top three planning applications for 2014, the report said.

AdviserNetgain was also rated as the top hybrid planning/platform application.

Further, the report found Rubik-owned Provisio, which was currently being integrated with Coin, to be the best superannuation scaled advice application ahead of Decimal and Xplan Engage, Webster said.

“Provisio has been the leading developer of intra-fund advice applications for many years and is now part of a growing category of applications that offer different approaches to scaled advice delivery,” he said.

Further, the report found Future of Financial Advice compliance was being implemented through investment in planning technology.

“Aligning compliance with increased practice efficiency should deliver a better business and more consistent client outcomes,” Webster said.

According to Investment Trends’ “May 2014 Planner Technology Report”, Xplan had 53 per cent of primary relationships with financial planners, while Coin had 23 per cent and Midwinter held 8 per cent.

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