BT Wrap integrates Xplan and VisiPlan information
BT Financial Group has enhanced the ease of use of its BT Wrap platform by allowing data from financial planning software packages Xplan and VisiPlan to be automatically integrated into the BT product.
Head of BT Wrap product development Jeroen Buwalda said: “This means they [advisers] can re-use stored client information, remove the need to re-enter data, reduce administration and form preparation time, improve accuracy and reduce the risk of trading errors.”
“Planners in some cases have to type in the same information in five times and whatever we can do to help them reduce the number of times they type in information they welcome with both arms,” he added.
The data sharing service had already been implemented for advisers using the Macquarie-owned Coin financial planning application last November due to the fact that BT’s internal financial planners were users of this software.
According to Buwalda the rollout of the latest development will be progressive and will be made available to advisers when they next upgrade their versions of Xplan and VisiPlan.
Iress Wealth Management Solutions believes the new arrangement aligns well with its aim to help advisers improve their operational efficiency.
“The integration is based on data standards for communication between desktops and platforms. Iress fully supports such standards in our leading software products Xplan and VisiPlan, and is keen to drive its use,” Iress general manager Andrew Walsh said.
Buwalda intimated that this enhancement of the BT Wrap product was the first of many the financial services organisation had planned for it in the coming months.
“Improved straight-through processing is all part of BT’s commitment to making BT Wrap even faster, smarter and easier to use,” he said.
The move is in line with other back-office support changes made to BT Wrap and its badged versions recently
Already the BT’s online performance report has been improved and new desktop functionality regarding distribution option changes has been implemented.
AUTHOR
Recommended for you
Wealth Data has examined which advice business model has seen the most growth since the start of the year including those that offer holistic advice.
Research conducted by Elixir Consulting and Lonsec has quantified the efficiency gains of using managed accounts in financial advice practices in hours per week saved.
WIth only one-quarter of advice practices actively seeking feedback from clients, the Financial Advice Association Australia has emphasised why this is a critical tool for client retention.
As the government announces a public inquiry into the collapse of Dixon Advisory, risk adviser Richard Silberman has detailed the three areas that typically lead to an AFSL's collapse.
