Online reports made easy
In an effort to improve the efficiency for its flagship Summit platform, AXA Australia has introduced a dynamic online reporting functionality.
The new reporting system will allow advisers to build tailored online reports anytime they want.
According to AXA, this will enable advisers to have greater flexibility and control over client reporting and as a result, better control in the way advisers run their practices.
For example, advisers will be able to save time by reusing the same reporting format as a template for multiple clients.
In addition, the dynamic reporting facility has introduced two new optional reports. The first called Rate of Return calculation will provide advisers with a client’s portfolio performance over any timeframe, with options to exclude fees and include comparative indices.
The second will allow advisers to quickly and easily chart a client’s account balance since inception.
Established in 1992, the Summit platform is a specialist portfolio administration service that offers a range of products from managed funds, direct assets, superannuation solutions and insurance.
Late in 2006, AXA pledged to spend $15 million to improve Summit's functionality.
The platform currently administers over $4.5 billion for over 35,000 clients.
AUTHOR
George Liondis
Recommended for you
Sequoia Financial Group has announced it is selling off its Informed Investor subsidiary which it acquired in April 2022.
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.
