Westpac Financial Planning a LEAP ahead
Westpac Financial Planning has now completed the implementation of its advisory administrative tool known as the Leading Edge Advice Platform (LEAP).
The system was developed by the bank and is basically a customised version of the Coin financial planning application.
It provides financial planners with an automated system that takes care of key advisory functions, including client portfolio management, strategy and entity modelling, investment, superannuation and insurance recommendations, and workflow solutions.
In addition, LEAP also contains functionality to help planners produce Statements of Advice, generate enterprise reports, and apply compliance controls.
According to Westpac Financial Planning general manager, advice, Sally Herman, the use of LEAP will allow planners to focus more of their attention on providing their clients with strategic advice and wealth creation strategies by easing the burden of some of the administrative tasks involved with running a financial planning practice.
She said: “We consider LEAP to be the pre-eminent advice solution available to planners.”
“This platform provides a powerful, universal solution that will enable a planner to develop and offer strategies to clients that give us a competitive edge,” Herman added.
The rolling out process associated with the platform has been performed over the past 18 months, and feedback the bank has received from its advisers has so far been very positive.
Recommended for you
Unregistered managed investment scheme operator Chris Marco has been sentenced after being found guilty of 43 fraud charges, receiving the highest sentence imposed by an Australian court regarding an ASIC criminal investigation.
ASIC has cancelled the AFSL of Sydney-based Arrumar Private after it failed to comply with the conditions of its licence.
Two investment advisory research houses have announced a merger to form a combined entity under the name Delta Portfolios.
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.
