Adviser group reaches data 'milestone'
Adviser group Finzo, along with Iress, have established a data feed that they say will help increase advisers’ business efficiency.
Thursday, October 31st 2019, 6:00AM
The feed runs between the Finzo Platform, an investment platform powered by FNZ, and Xplan, Iress’s financial planning and wealth management software.
They said that would mean advisers could accurately and efficiently update client portfolios.
“For advisers, we want to take away all the distractions like CRM, compliance, and cyber/data security and in return provide a ‘business in a box’ solution that allows them to focus more on advice and client interaction,” Finzo chief executive Nick Stewart said.
“The technology is not an end in itself. It is about advisers being able to both deliver better client outcomes and grow their businesses at a faster rate.”
He said it was a milestone project delivering fast, secure and efficient data between the platform and Xplan.
“This enhances reporting functionality beyond basic custodial standards while freeing up advisers to spend time on what is most important – building client relationships, increasing efficiency and expanding their businesses.
“It means advisers can now generate bespoke reports out of Xplan across the multiple channels of advice, while the creation of client review packs with live portfolio and client data is now just a click away.”
The data feed also provides access to Iress’s portfolio module in Xplan, which offers a client-centric solution for advisers to construct, review, analyse and maintain simple or sophisticated investment portfolios.
Iress’s general manager of wealth in New Zealand, Andrew Logan, said the collaborative approach between Finzo, FNZ and Iress provided Finzo advisers with an integrated solution and would make it easier for advisers to ensure their client data is accurate and up-to-date.
“Iress has a rich history of third-party integrations and we’re pleased to partner with Finzo on this initiative. It provides advisers with a single source of truth for data, while streamlining the end-to-end client engagement cycle from onboarding; risk profiling; investment modelling and portfolio construction; to portfolio management, reporting and monitoring."
Finzo plans to become a financial advice provider providing two options – adviser business can work within its licence or use its services to support their own FAP.
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