As a long-standing Iress client, Finance Shop relied heavily on Adviser Office to maintain data integrity and distribute data to a variety of disconnected applications across the business. The upgrade to Iress Xplan presented the opportunity to create a single business-wide platform that integrates front and back office processes, including a newly-developed transactional data feed with Sprint Enterprise Technology and Raymond James. This means there is now a single customer record throughout the business - providing greater data accuracy, less rekeying of information and ultimately a better client experience. Also included in the upgrade was the addition of a digital client portal, white-labelled apps and Iress’ investment management solution.
The move to Xplan has enabled Finance Shop to decommission a number of other applications as well as significantly reduce the use of Excel and the manual creation of documentation. This has led to far greater operational efficiency, while providing the technology foundations to scale with Finance Shop as it grows.
Iress’ Commercial Director - Wealth, Andrew Foster said, “The work we’ve done with Finance Shop gives us enormous satisfaction as it’s a clear example of the benefit Xplan can bring to wealth management businesses. In just five months, Finance Shop has been able to bring their business out of a multitude of silos and fully transform its technology stack into a scalable, efficient and robust platform that will serve them well into the future.”
Finance Shop’s Technology and Development Manager, Chris Mallett said, “The migration to Xplan has significantly improved our efficiency and consistency across the organisation. Xplan has allowed us to build our processes and documentation into the software, rather than having software dictate how to operate. We can now engage with clients in the style and approach that we decide with much more automation. The level of customisation Xplan provides has allowed us to transform our administrative journey from prospect to annual review. Overall, we are expecting a significant gain in administrative productivity.”