Investment Trends releases latest Planning Software Benchmarking Report

Michael Blomfield

Michael Blomfield

Leading research firm Investment Trends has released its 2018 Planning Software Benchmarking Report, an in-depth study of the planning applications used by Australia’s financial planners.

The report benchmarks the key functionality of each application and reviews the direction of application development for financial planners and licensees.

XPLAN leads in Australian planning software benchmark rankings

Continuing its leadership in comprehensive planning application development, XPLAN topped the 2018 Planning Software benchmark overall rankings for the 12th consecutive year. XPLAN achieved top score in 29 of the 34 categories measured, maintaining its lead over other comprehensive planning applications.

Commenting on this result, Investment Trends CEO Michael Blomfield said: “In 2018, planning application development focused on implementing legislative changes to superannuation, improving adviser usability, and preparing for a post-Royal Commission financial advice landscape.”

The shift from modular advice process functionality continued to gain momentum. Planning applications are turning their attention to business and practice management, goal-based client discovery processes, and improving usability.

XPLAN also actively rolled out new functionality to improve the user experience and released their first CMS-based planning client portal to help advisers further develop their client service proposition and optimise efficiency in their practice processes.

Advice Intelligence and Milliman recognised for planning software innovation

Jointly recognised for innovation, Advice Intelligence and Milliman shared the Planning Software Innovation Award – for Advice Intelligence’s goals-based planning application powered by Milliman’s platform. “Their collaboration on a goals-based advice platform is seen as a progressive implementation” added Blomfield​.

Competition increases with the release of three new applications

While the vast majority of planners use XPLAN, COIN, AdviceOS, or AdviserLogic as their main advice delivery applications, competition is increasing. More recently, three new planning applications – CCUBE Integrated Wealth, Advice Intelligence, and Plutosoft – were delivered to market.

“Advisers have more options than ever catering to a diverse range of planning practice business models, helping improve every aspect of the advice process from client onboarding to ongoing engagement,” added Blomfield.

“These new third generation Australian planning applications reflect the shift to a goals-based advice process in tandem with the need to deliver enhanced process efficiency and compliance automation. The release of these comprehensive advice solutions present advisers with alternatives to the traditional propositions,” commented Blomfield.


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