Steve Davison

Midwinter Financial Services Pty Ltd (Midwinter) has announced an integration with Moneysoft, a provider of client engagement software for financial advisers, mortgage brokers and the financial services industry.

Advisers using Midwinter’s AdviceOS and Moneysoft’s Fact Find solution can now seamlessly push and pull data between the two systems.

The integration allows advisers to select which system they would like as the source of truth for each piece of data, and which data to sync between the systems. This provides a highly granular level of control through a simple integration that eliminates double handling of data.

Steve Davison, Chief Commercial Officer at Midwinter, is pleased to have Moneysoft onboard as Midwinter’s newest integration partner.

“We are committed to providing our clients with choice and flexibility and our growing number of native integration partners is one of the ways Midwinter is achieving that goal. This integration allows advisers who use Moneysoft’s Fact Find solution to seamlessly integrate their data with AdviceOS to make use of its sophisticated financial modelling, product comparison and client engagement features.”

Jon Shaw, Chief Executive Office at Moneysoft, also welcomed the integration with AdviceOS.

“Midwinter’s AdviceOS is the latest addition to the Moneysoft integration library and the Midwinter team have been outstanding with technical support and product collaboration throughout. We are proud to add the integrated fact find capability to our solution stack, which will benefit IFA’s, dealer groups and funds looking to automate and digitise the advice process. This integration is specifically designed to improve completion rates, significantly increase the efficiency of advice delivery, and reward clients and members by compressing the interest-to-execution timeframe. The Moneysoft team is looking forward to work with Midwinter on a number of upcoming deployments”.

The Moneysoft integration is available now, on request, to all AdviceOS customers.

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Jon Shaw

A flexible, cost effective version of leading personal financial management (PFM) tool, Moneysoft will be available to financial advisers, mortgage brokers and superannuation funds next quarter, as client demand for professional help with saving, budgeting and cashflow management continues to grow.

Moneysoft Lite has been developed to support advisers who have introduced, or plan to introduce, a cashflow management service by giving them the client engagement tools to start a conversation around cashflow services and visually illustrate the value and power for money management along with the ability to automatically gather and consolidate account balance data from multiple sources including bank and superannuation accounts.

Moneysoft head of operations, Jon Shaw said Moneysoft Lite would include new and enhanced functionality available in the flagship cloud-based Moneysoft solution including an intuitive world-class interface to guide users; automated collection of account balances; the ability to deliver bespoke reports and share data; and an opportunity identification tool which shows advisers exactly where and how clients can benefit from more comprehensive, cashflow-based advice.

“With Moneysoft and Moneysoft Lite, not only can advisers gain a complete understanding of their clients’ financial situation and behaviour but they can efficiently deliver cashflow as a service and by doing so, diversify their revenue, reach new advice audiences and drive growth,” he said.

“Moneysoft Lite will help advisers capitalise on the mounting interest in saving, budgeting and cashflow management while lifting client engagement and satisfaction.”

Since the launch of Moneysoft in 2013, the platform’s features and functionality have increased significantly to reflect the growing needs and demands of advisers and their clients, who are now reaping the benefits of implementing a disciplined cashflow management strategy.

A recent survey conducted by Moneysoft showed advisers who provide advice and coaching on saving, budgeting and cashflow management have deeper client discussions, particularly among wealth accumulators in the 30 to 45 year age bracket who want to “get organised” and “gain control” of their financial lives.

The survey also found Moneysoft’s analytical technology was helping bring traditional, stagnant budgeting and cashflow modelling to life by visually showing clients the impact of their behaviour and how positive changes, such as controlled spending, can help them achieve their goals sooner.

“We’re launching a lite version of Moneysoft because we know the difference that advisers can make in their clients’ lives by helping them set, and stick to, realistic saving and budgeting goals,” Mr Shaw said.

“By making Moneysoft accessible to a wider number of advisers, and making it easier for them to get clients actively involved in budgeting and cashflow management a lot earlier in the advice process, they can deliver advice that’s not related to a financial product and truly maximise the probability of clients achieving their short, medium and long-term goals.”

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