Financial planning software provider Midwinter has released a new version of its Reasonable Basis software, which is aligned with recent changes to AXA’s North platform.
The new AXA North product now has eight administration fee tiering levels with discounts to the administration fee based on certain investment options selected.
According to Midwinter director for strategy and technical services, Matthew Esler, the new fee structure made the North platform a much more complex product for advisers to model.
Esler said AXA North product fees and features were already loaded into Reasonable Basis 3.12, allowing for an automatic calculation of administration fee discounts – a process that he said would take a lot longer if done manually.
Reasonable Basis 3.12 will be available to existing customers by the end of April.
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