RetireInvest to overhaul planning software
Greg Dunger
ING-owned dealer group RetireInvest is on the verge of making a final decision about the planning software direction it will be heading in for the coming years after undergoing a review of its existing systems and an assessment of the latest software currently available in the market.
RetireInvest managing director Greg Dunger said: “We’ve looked at three [service providers], being PlanTech, ProPlanner and VisiPlan, with the view that one of those will be the software provider of our choice.”
He expects the final announcement to be made about the move in late November of this year.
One of the key considerations the dealer group has taken into account throughout the process is what the next generation of software each provider has on offer will be.
“Because it’s such a dynamic area in terms of the changes that they go through, you want to make sure that they are investing for the future,” Dunger said.
“The other thing is that they’ve got [to have] the support and infrastructure to ensure a smooth transition,” he added.
Dunger revealed it was the lack of flexibility inherent in the version of VisiPlan currently being used by RetireInvest that prompted the software review.
“The feedback that I’ve been getting from advisers [about VisiPlan] is it’s a bit clunky,” he said.
“A few people wanted certain things within the software, predominantly for the dealer group level, and that resulted in the software no longer being an off-the-shelf product,” Dunger explained.
“I think as soon as you deviate from an off-the-shelf product and start to try and fiddle around with it, then you’re only asking for trouble down the track,” he said.
The review process began in July and has involved people from all levels of the organisation, such as advisers, paraplanners and office staff.
Dunger said irrespective of which product RetireInvest decides to go with, it will represent a change to the current software the dealer group has in place.
The ING-owned advisory network expects to be taking out approximately 500 licences for all of its authorised representatives, and Dunger anticipates the rollout to its planners will commence in March or April of next year and continue throughout 2007.
The implementation process will involve extensive training for advisers as to the functionality of the new system.
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