IWLhas bumped up its services with the addition of a secure data transfer system between external groups, IWL’s Visiplan and VisiWeb software and its clients.
The new tool, VisiTrustedNetwork (VTN), will provide automated data feeds and straight through processing capabilities to users of IWL’s suite of products.
IWL Financial Advisory Solutions general manager Ross Johnston says through VTN data can be imported directly into VisiWeb and the data feeds currently used by the group’s desktop software Visiplan will be added to the VTN system.
According to Johnston VTN will draw together data feeds into a central point improving on the current system where advisers need to process each data feed in use individually but this will depend on data providers using the VTN file format. However IWL says a number of managers have adopted that standard.
It will also allow advisers to order funds online from the portfolio management module of the VisiPlan desktop software using straight through processing (STP) with client portfolio information automatically updated when order are fulfilled.
The addition of VTN comes as IWL releases a new version of its VisiWeb planning software which has been redesigned to include recording the lifestyle and financial goals of clients, improved fact finding tools and straight through processing using VTN.
Johnston says STP is a new development for IWL and is part of a greater strategy to provide systems for advisers to place orders for specific products through VisiPlan and VisiWeb, with the latter and VTN a core part of its STP strategy.
