Xplan wins market share while Midwinter wins minds
Financial planning software continues to be a hotly-contested market space with Xplan continuing to dominate the market while Midwinter's software receives the highest overall satisfaction ratings from advisers.
This is according to the Investment Trends 2014 Planner Technology Report, released yesterday which surveyed more than 1000 financial planners between April and May this year, drawn from an Investment Trends panel and FPA database.
According to the report, now in its eleventh year, Xplan continues to hold more than 50 per cent of the adviser planning software space and Xplan brand is recognised by more than three quarters of financial planners.
IRESS chief executive Andrew Walsh said its ongoing success was linked to the success of its adviser clients and it had invested significantly in development and in bringing in experience from its overseas operations for application in the local market.
Despite the market share figures for Xplan, competitor software offering AdviceOS from Midwinter received the highest overall satisfaction rating from the planners who were surveyed, with an average score of 4.3.
According to the report Midwinter received the highest average user satisfaction ratings in all but four of the 27 categories measured by Investment Trends.
AUTHOR
Jason Spits
Recommended for you
Despite the year almost at an end, advisers have been considerably active in licensee switching this week while the profession has reported a slight uptick in numbers.
AMP has agreed in principle to settle an advice and insurance class action that commenced in 2020 related to historic commission payment activity.
BT has kicked off its second annual Career Pathways Program in partnership with Striver, almost doubling its intake from the inaugural program last year.
Kaplan has launched a six-week intensive program to start in January, targeting advisers who are unlikely to meet the education deadline but intend to return to the profession once they do.
