Netwealth announces major adviser efficiency updates
Netwealth has released a suite of improvements for its users, designed to enhance adviser efficiency and optimise client engagement.
Over the past 12 months, the investment and wealth management technology provider has been focusing on developing a range of tools to further support advisers and their clients.
“For decades, technology has driven business efficiency, and Netwealth continues to help lead the charge,” commented Matt Heine, chief executive and managing director of Netwealth Investments.
“Recognising the industry’s push to do more with less, Netwealth has released numerous features over the past 12 months to support this goal.”
One of the key upgrades Netwealth has made to support adviser efficiency is a “reimagined” user experience. The firm has re-architected its user desktop interface to provide a more cohesive and accessible experience. This includes a simplified top menu for easier access and a three-column layout that provides more information in a single page.
Heine added: “We have a laser focus on trying to improve the user interface, aiming to help advisers find information and lodge transactions faster. Over the coming months, our clients will see continuous improvements in this area.”
Netwealth has also improved its record of advice (ROA) feature for advice practices initiating a trade for a client by introducing a tool that allows advisers to input a specific pre-defined text and customise the disclaimer using a text editor. This will reduce friction for the client and speed up response and trading times, the firm explained.
Next, the platform has heavily invested and enhanced its client reporting tool to save advisers more time. This entails pre-configurable report settings, the ability to create custom report templates, and the ability to generate multiple reports for multiple accounts simultaneously.
Moreover, it has launched straight through processing and execution of international equities on 16 exchanges to support T+1 settlements. This includes live trading and limit orders, significantly reducing friction in the trading process.
Other key updates involve Netwealth supporting more than 20 data and software integrations, reducing the double handling of data and improving overall accuracy.
Clients can now also quickly approve adviser-initiated instructions via the Newealth mobile app.
The CEO said: “People expect to manage their wealth from their mobile phones. At Netwealth, our focus on the client portal and mobile app helps advisers deliver on this goal while saving time on paperwork and signatures.”
Earlier this month, Netwealth announced its ASX results for the June quarter. It reported a $3.3 billion funds under administration (FUA) rise to $88 billion over the three months to 30 June 2024.
“We have expanded and strengthened our new adviser and licensee relationships, and our new business pipeline and conversion rates, across all segments, remain very strong,” the announcement stated.
“As flagged in our previous quarterly update, a number of significant transitions have commenced in Q4 FY2024. Many of these transitions are in the early stages which provide us with a high level of confidence in the net inflow outlook for FY2025.”
AUTHOR
Jasmine Siljic
Recommended for you
The decision whether to proceed with a $100 million settlement for members of the buyer of last resort class action against AMP has been decided in the Federal Court.
ASIC has released the percentage of candidates who passed its August financial advice exam with the volume dropping to the lowest since November 2022.
Clients are exhibiting multiple concerns on the intergenerational wealth transfer, making it imperative for advisers to address these fears through comprehensive strategies, Adviser Ratings explores.
ASIC has identified three situations where it may be difficult for a licensee to assess an adviser’s qualifications and provided case studies of how they should be tackled, as it undergoes a crackdown on FAR reporting.
