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
With a large group of advisers expecting to exit before the 2026 education deadline, an industry expert shares how these practices can best prepare themselves for sale to compete in a “buyer’s market”.
Australia has marked a decade among the best countries for retirement, according to Natixis, but with high inflation threatening their retirement goals, a third say they would get professional advice to improve their chances.
When it comes to the risks of acting as a responsible manager at an AFSL, compliance firm Holley Nethercote has shared a range of red flags that could see them facing disciplinary action from the corporate regulator.
Wealth management platform provider Netwealth has announced a partnership with FinClear to streamline trading capabilities for advisers.
