Midwinter solution concentrates on value-adds


By Krystine Lumanta

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Financial planning software provider Midwinter has completed the infrastructure changes to its offering and will now move onto the value-add stage of its future roadmap.

In May last year, the business began rewriting its planning software to become a more comprehensive financial planning software suite under Advice Operating System (Advice OS).

“This is what we’ve been [waiting] to do for a while,” Midwinter managing director Julian Plummer said earlier this week.

“Things like stochastic projections rather than deterministic, which allows you to find the probability that the client is going to meet their target goals.

“What we’re doing is introducing risk into projections so then you have probabilistic outcomes.”

In addition, there was a strong focus on client engagement, which included content management, calculators and guided calculators, as well as a continued emphasis on multi-advice channels, Plummer said.

Configurability and statement of advice streamlining would also continue to be major focus points, he said.

“We’re all about content management and customisation,” he said.

“If an enterprise was to use Advice OS, they can configure it in such a way that if another user came on from another licensee, it would be completely unrecognisable.”

Midwinter was using an objectives-led advice approach in the development of its software, he said.

“We think advice is going to be driven by life events rather than the yearly review,” he said.

“[Advice] has got to be dynamic, consistent and ongoing, so rather than an anniversary review, why not get advice when you have kids or when you are going to retire?

“That’s what this system allows you to do – interact with advice – and this is going to speed up the advice process and clients will take ownership of their circumstances and become more engaged in the process.”

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