IRESS announces further enhancements to its wealth management software, XPLAN

3 August 2017

IRESS, the leading supplier of technology for wealth management, financial markets and the mortgage industry has rolled out the latest version of XPLAN, its integrated software for wealth managers and financial planning professionals.

Building on IRESS’ strategy to provide flexible, reliable and responsive technology solutions, and as part of a program of regular software updates throughout the year, this latest version delivers further valuable benefits to users of XPLAN.

Client benefits delivered in this XPLAN software update include new features to assist advisers and acquirers to generate more detailed and accurate business revenue reports, a substantial enhancement to the client Net Position screen and a new real-time support tool called XPLAN iAssist.

The changes to the Policy Takeover feature within the revenue management module in XPLAN allows remuneration due from policies to be automatically transferred to new owners. This delivers significant efficiencies for advisers who may be looking to sell their business in the future and to consolidators acquiring advisory firms or books of business. This enhanced feature also allows system administrators to better manage and monitor revenue received on the same policy for different advisers, as the policy changes hands through acquisitions or transfers. Comprehensive reporting enables XPLAN users to track revenue due for the same policy, but for different advisers.

Enhancements to the client Net Position screen makes it easier for XPLAN users to view all of the tax wrappers, products and investment funds in one place. Additionally, a new colour coding feature enables a visual segregation of holdings between accumulation and decumulation assets. This enhancement allows advisers to input data and view accurate plan values far quicker, improving process efficiencies.

A new client support tool, iAssist, allows XPLAN users to grant an IRESS support team member temporary and secure access to their individual XPLAN session within a few seconds. Users will be able to securely-generate a unique token within XPLAN, which won’t require the exchange of any username and password details. The new functionality allows IRESS to rapidly respond in real-time and in a transparent, secure and efficient way, without the limitations and frustrations of screen-sharing software installations. The integrity of client and user data is ensured with all activity logged in a secure audit trail. The service can be easily deactivated and reactivated as needed.

Mark Loosmore, UK Executive General Manager (Wealth), IRESS said: “These enhancements we have delivered through the latest XPLAN software update have all been designed to make advisers’ lives easier and help them plan more effectively and efficiently. Additionally, in this update we are delivering valuable support functionality for those businesses focusing on valuations and revenue streams, as they strategically consider their future business plans. We will continue to deliver practical improvements to our products that make a tangible difference and deliver cost efficiencies to our clients, whatever their size or business structure.

“We’re thrilled with the way XPLAN is evolving and with the positive user engagement we’re receiving.”

IRESS is a leading technology supplier, providing integrated trading, market data, wealth management
and mortgage solutions. Some of the world’s leading financial services businesses choose IRESS.
IRESS is listed on the Australian Securities Exchange (ASX.IRE) with operations in the Australia, Asia, Canada, New Zealand, South Africa and United Kingdom

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