Midwinter integrates with CommSec Adviser Services


By Julie May

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Adviser demand had led Midwinter to integrate its flagship AdviceOS financial planning software with daily data feeds from CommSec Adviser Services, the financial planning software company said yesterday.

The data feeds include daily pricing, and holding and transaction information for all ASX-listed investment vehicles executed via CommSec Adviser Services.

In addition, balance and transaction information from the Accelerator Cash Account would also be made available, Midwinter said.

Midwinter managing director Julian Plummer said the announcement came at a time when integration between financial services providers was at the forefront of driving efficiencies.

“With the undeniable push from advisers towards holding direct assets, it was a logical decision to prioritise this integration with CommSec Adviser Services, who are one of Australia's leading providers of investment services to financial intermediaries,” Plummer told financialobserver.

“Direct shares are progressively becoming an integral part of clients’ portfolios, and being able to monitor daily holdings, transactions and prices via CommSec Adviser Services will give AdviceOS users a head start in creating and monitoring those portfolios on behalf of clients.”

He also pointed to the rapid growth of self-managed super funds and those vehicles typically having significant holdings in direct shares.

“We are delighted to announce this enhancement to AdviceOS and to be partnering with such a recognised institution,” he said, adding the number of AdviceOS users had increased dramatically in recent months, while demand for integration had also grown.

Removing the need to manually update clients’ CommSec Adviser Services data freed up advisers to focus on the core elements of their business so they were not burdened by administration, he said.

“The CommSec Adviser Services daily balances and transactions are imported and updated in the portfolio analysis and fact-find module of AdviceOS, and then flows through to all product and strategy modules, reporting, SOAs (statements of advice) and digital and client portals within AdviceOS,” he said.

“By combining the CommSec Adviser Services feeds with our other external platform data feeds, Xero Cashbooks, our own internal product database and research from Morningstar, AdviceOS users will be able to keep track of their clients’ total portfolio as they track their objectives over time.”

Further, he said Midwinter looked forward to establishing further partnerships of this nature as the company moved closer to best-of-breed software integration.

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