IRESS partners with netwealth for XPLAN integration
IRESS and netwealth will partner as part of a broader strategy of providing advisers with "straight-through processing" and decreasing back office inefficiencies through XPLAN software integration.
Advisers using netwealth and the latest XPLAN release will be able to transfer client information and product recommendations directly into the netwealth application system using XPLAN's IRESS Portfolio System (IPS) and eApplications ‘Pass Through' facility.
netwealth joint managing director Matt Heine said the lack of two-way integration for advisers was a key issue that this partnership sought to redress.
"It solves one of the most common issues experienced by advisers and their staff, which is the lack of two-way integration between their platform and business software," Heine said.
"The increased efficiency this will create for advice businesses is significant."
According to IRESS' group executive of product, Aaron Knowles, the company will look to continue to leverage the strength of XPLAN to help improve efficiency for advisers interacting with platforms.
"This is an area of high demand from advisers, and one that is very attainable as demonstrated with the efforts by IRESS and netwealth," Knowles said.
Heine said that the integration will allow netwealth to move closer towards realising their vision of a "paperless office" environment
"It will be a seamless process which will lead to faster turnaround times and better client satisfaction," Heine said.
Netwealth confirmed the integration will be progressively rolled out over the next few weeks to advisers accessing dealer services from netwealth subsidiary pathway licensee services.
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