SalesPreso integrates with Xplan to release automated Statement of Advice platform

From

Mark La Bozzetta

Data-driven presentation platform, SalesPreso has announced the launch of a specialised wealth-management solution aiming to accelerate and automate compliant advice across the financial planning sector.

Leveraging an integration with Iress Xplan, SalesPreso will enable a fully automated, data-driven digital Statement Of Advice (SOA) creation process, all the way through to integrated digital signing and compliant file storage back into Xplan and the updating of regulatory monitoring systems. The platform is called LivePreso Wealth.

The Financial Planning Association recently established a working group consisting of financial planners, ASIC, CoreData, financial services lawyers like Holley Nethercote, and a handful of fintech companies to understand what the future of advice looks like. The core focus of this group is moving to digital SOA.

Streamlining the creation of SOA documentation will save the industry thousands of hours in lost productivity each year, SalesPreso Head of Industry Strategy Mark La Bozzetta said. “Currently, an SOA can take between 4-10 hours to complete and the final product is either reams of paper or a static PDF document – either way, many SOAs are boring, hard to read and laden with compliance rhetoric that can confuse the client. With around 20,000 advisers in Australia, that’s thousands of wasted hours and resources spent on documentation when these professionals should be helping clients better understand their wealth position and the value of advice,” La Bozzetta said.

SalesPreso is a platform that replaces traditional manual tools like Word, Powerpoint and PDF documents with an automated, live format. The platform’s integration with data feeds as well as its interactive functionality means professionals no longer need to repeatedly waste hours compiling client presentations, potentially using inaccurate or outdated information. Instead, they can focus on engaging and advising; spending valuable time with their clients with a tool that delivers rich interactive customer experiences.

By integrating LivePreso Wealth with many of the existing systems used by financial planners, including Xplan, advisers can start to provide automatically relevant insights for each client in an instant. There’s no paper or post-merge-editing. Instead, the solution is driven by dynamic visuals, is engaging and easy to understand.

“Advisers can ensure they’re presenting clients with up-to-date information, maintaining compliance with a click of a button and turn their focus to ensuring customers understand what’s in front of them,“ La Bozzetta said. “With 70% of consumers learning visually, we figured there had to be a better way to communicate to clients such vital information so they can make more informed decisions about their finances. The wealth iteration of the SalesPreso platform will improve client understanding of advice – not just the disclosure of information.”

“Transforming the way a Statement of Advice is compiled, presented and interacted with is a significant step forward for the financial planning sector which for too long has spent too much time producing weighty documents that very few people actually want to read,” said Jeff Yacoub CFP®, Managing Director, Argent Street Financial Services.

Wealth is the first of an industry-specific approach SalesPreso is taking to grow its subscriber base, flagging real estate as its second vertical, due to be launched in 2020. The SaaS solutions complement the company’s existing enterprise model and will enable broader adoption of the software.

“Working with REA Group, Domain, Jellis Craig, MYOB and Iress, we’ve seen a strong fit across the real estate, finance, accounting and wealth management industries,” SalesPreso co-founder Aaron Cooper said, adding: “Moving into the wealth management sector is a strategic decision that combines productivity gains with game-changing customer experience as the company continues to expand.”

The SalesPreso platform is already integrated with 60+ other systems including Salesforce, Adobe, DocuSign and Tableau.

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