Ever increasing regulatory pressures and in particular, a focus on client outcomes and suitability, are placing heavy demands on adviser time, as well as a need for rigorous compliance process and evidence. Those seeking to offer scalable advice are also placing a significant emphasis on efficiency through automation, in order to meet client and business requirements.
Xplan Prime allows financial advisers to provide a simple, cost efficient, guided advice service. It allows adviser firms to deliver scalable, objectives-based advice that accounts for the way each client prefers to seek advice based on their needs and their budget.
Xplan Prime allows an adviser to seamlessly switch to providing a more holistic approach when needed, while maintaining a single client file, with all necessary recommendations and evidence recorded for ongoing suitability purposes.
Commenting on the launch of Xplan Prime, Mark Loosmore, General Executive Manager, Wealth, at Iress said:
“Some advised clients simply require goal-based financial planning, regular communication and guided advice, while for others a full holistic advice proposition is more appropriate. Many will require a mix of both approaches at different stages of their life.
“Advisers and financial institutions are seeking greater flexibility in how they can meet the changing needs of their clients. Prime works with Xplan as one advice platform, so there is no double entry of data. Advisers work with one set of documents, one set of compliance rules and one client file record ensuring consistent and accurate advice at all times. It enables fast, efficient and simple advice generation with an easy to use interface via face to face, telephone or digital engagement with a client. Through Prime, advice firms will be able to serve more clients, more profitably, more efficiently and deliver a more personalised service.”