XPLAN continues to dominate adviser space

17 April 2019

XPLAN continues to dominate the Australian planning software market, even though the landscape is changing, according to the latest survey data from Investment Trends.

The Investment Trends research revealed that XPLAN had maintained its market leadership in Australia for a twelfth successive year achieving a top score in 29 of the 34 categories measured by the specialist research house.

However, the report also found that while the vast majority of planners use XPLAN, COIN, AdviceOS, or AdviserLogic as their main advice delivery applications, competition is increasing.

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It noted that, more recently, three new planning applications – CCUBE Integrated Wealth, Advice Intelligence, and Plutosoft – were delivered to market.

Commenting on the development, Investment Trends chief executive, Michael Blomfield said advisers now have more options than ever catering to a diverse range of planning practice business models, helping improve every aspect of the advice process from client onboarding to ongoing engagement.

“These new third generation Australian planning applications reflect the shift to a goals-based advice process in tandem with the need to deliver enhanced process efficiency and compliance automation. The release of these comprehensive advice solutions present advisers with alternatives to the traditional propositions,” he said.

Blomfield said that in 2018, planning application development focused on implementing legislative changes to superannuation, improving adviser usability, and preparing for a post-Royal Commission financial advice landscape.

He said the shift from modular advice process functionality continued to gain momentum with planning applications turning their attention to business and practice management, goal-based client discovery processes, and improving usability.

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