DMS Adviser Online to be available for Matrix planners
The 80-strong financial adviser network of Matrix Planning Solutions is set to be granted access to Dealer Management Systems’ (DMS) Adviser Online to allow them to track their commission revenue more efficiently.
The DMS rollout to all Matrix advisers will take place in May, at which time authorised representatives of the group will have access to the basic Adviser Online package free of charge.
For the past 12 months the DMS system has been available for use only at the dealer level, as Matrix wanted to make sure its planning network could properly support the Adviser Online system.
“We held off on rolling out the Online piece because we wanted to make sure we had the right infrastructure in place to support it at an adviser level. So we’ve used that period to hone it in here and now we’re ready to roll it out,” Matrix national development manager Matt Ryan said.
The first stage of the process will begin with an adviser support staff workshop, which will be held in three weeks time.
“It’s a two-day workshop where we bring along, not the advisers, but their support staff É and we’ve got a session there where we basically are doing a training session on DMS Online. So we’re getting someone from DMS to come along to show the support staff how to use it,” Ryan said.
Further training, if necessary, will be provided once the rollout has been completed.
While the basic package of DMS Adviser Online will be delivered to Matrix advisers at no cost, those practices wanting a more sophisticated module will have to pay for it. Ryan feels this will really only apply to the more corporatised practices within the group.
The Matrix move comes a week after RetireInvest implemented DMS Adviser Online to all of its authorised representatives.
Commenting on the Matrix initiative, DMS sales and marketing manager Kurt Smyth said: “We see the latest win with Matrix demonstrating DMS’ market leadership position.”
Recommended for you
The top five licensees are demonstrating a “strong recovery” from losses in the first half of the year, and the gap is narrowing between their respective adviser numbers.
With many advisers preparing to retire or sell up, business advisory firm Business Health believes advisers need to take a proactive approach to informing their clients of succession plans.
Retirement commentators have flagged that almost a third of Australians over 50 are unprepared for the longevity of retirement and are falling behind APAC peers in their preparations and advice engagement.
As private markets continue to garner investor interest, Netwealth’s series of private market reports have revealed how much advisers and wealth managers are allocating, as well as a growing attraction to evergreen funds.
