VisiPlan, Coin join forces on platform tool
Financial planning software providers VisiPlan and Coin have signed an agreement to build an electronic interface that will enable the transfer of client investment data from their respective front-end platforms to third-party platforms.
One of the key initiatives will be the development of eforms that can be completed directly from the front-end financial planning platform without the need for planners to re-key data.
The eforms will enable investment forms to be “pre-populated and validated via the front-end financial planning software platform, thereby reducing errors in transposition and dramatically reducing the time required to implement financial plans”, said VisiPlan.
The collaboration will involve both VisiPlan and Coin, owned respectively by IWL and Macquarie, funding the enhancements to their respective platforms themselves.
The operation is expected to take 18 months, although some interfaces to platforms are expected to be available during this calendar year,
Coin managing director Tony Graham said the project would involve both parties openly sharing and jointly developing functional specifications.
“The project will enable us to get data efficiently out of the financial planning platform and on to the website for the platforms for applications, transactions and enquiries, so we can minimise errors and the advisers don’t have to re-key data.
“We believe the project on completion will the simplest and most efficient approach to interfacing between front-end financial planning software and investment platforms,” he said
Recommended for you
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
Having sold Madison to Infocus earlier this year, Clime has now set up a new financial advice licensee with eight advisers.
With licensees such as Insignia looking to AI for advice efficiencies, they are being urged to write clear AI policies as soon as possible to prevent a “Wild West” of providers being used by their practices.
Iress has revealed the number of clients per adviser that top advice firms serve, as well as how many client meetings they conduct each week.
