Xplan teams up with Lonsec for research and broking
Financial planners usingXplanwill now be able to access the complete research and stockbroking product offering ofLonsdale Securities(Lonsec) through their software after the development of an integrated offering.
Xplan will now offer Lonsec’s research on listed equities, managed funds, agribusiness, property syndicates and listed income securities along with a real-time stockbroking solution.
Xplan national sales and marketing manager Jason Hoang says many of the software’s clients and prospects have wanted the Xplan and Lonsec integration, and that the two groups have had a good working relationship.
Hoang says the offering works as Lonsec delivers research and stockbroking for planners, while Xplan allows dealers to choose the research, platform and broker connectivity they wish to use within the application.
Lonsec marketing manager John O’Shea says Xplan’s decision was a reflection on the research team and stockbroking offering of Lonsec.
The move comes as sharemarket information system providerIress, who purchased Xplan Technologies back in March of this year, continues to integrate and upgrade the software.
At the time of purchase, Iress committed to investing upwards of $1.7 million over two years to upgrade Xplan, and the group has also moved this year to scale up the number of staff on the operation.
Iress believes that Xplan will have an operational earnings impact in 2003 of over $1 million, and that month to month breakeven will be achieved at some point in 2004.
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