Midwinter announces paraplanning program
Following a successful pilot phase, Midwinter has partnered with three paraplanning firms to create an integrated paraplanning solution for advisers.
Its Paraplanning Partners Program will connect Midwinter’s clients with a network of highly skilled paraplanning professionals trained in the Midwinter software to enable collaboration and efficient delivery of paraplanning and administrative services.
The inaugural members of the program are TNW Solutions, an Australian-based business offering nationwide paraplanning services; Rocket Services, which creates, sources and connects expertise offshore to deliver seamless support to clients; and Scale Up Paraplanning, an Australian-based back-office service provider that delivers outsourced paraplanning, admin/research and practice consulting services.
According to Midwinter, a key feature of the program is the unique paraplanning licence that streamlines how paraplanners access specified client records through the Midwinter financial advice software. With advice firms able to tap into this expertise and additional resource pool when needed, it is expected to facilitate seamless delivery of external paraplanning and administrative services.
Midwinter’s head of advice sales, Stacey Cowan, said the firm is thrilled to partner with leading paraplanning providers to create a holistic offering to advisers.
“With the support of our trusted paraplanners, advice businesses can confidently embrace Midwinter and focus on what matters most – their clients,” she stated.
Last year, Midwinter integrated with estate planning platform, Inherit Australia, to connect financial advisers and lawyers.
This allowed advisers using Midwinter’s financial advice software to pull their client data into Inherit Australia and offer them a new potential income stream.
The software used robotics to replicate questions used by an estate planning lawyer to help advisers navigate the estate planning conversations with clients, allowing them to collect data without offering legal advice.
It also eliminated the need for double data-handling while ensuring the security of client data.
Recommended for you
A relevant provider has received a written direction from the Financial Services and Credit Panel after a superannuation rollover resulted in tax bill of over $200,000 for a client.
Estimates for the calendar year 2024 put the advice industry on track for a loss in adviser numbers as exits offset gains from new entrants.
Adviser Ratings shares five ways that financial advice changed in 2024 with an optimistic outlook for 2025, thanks to the Delivering Better Financial Outcomes legislation.
National advice firm Invest Blue has announced several acquisitions, including the purchase of an estate planning and wealth protection business Lambert Group.