X-plan is a financial planning and wealth management software used by financial advisers, wealth managers and other professionals all around the country. Developed by Iress Limited, it’s often referred to as the backbone of advice practices. Xplan offers a complete and comprehensive solution to financial advice firms by taking care of the low-value work and enabling professional paraplanners to focus on delivering top-quality advice.
Often financial advisers and other professionals find that much of their time is spent preparing and managing files, creating and maintaining financial plans, researching solutions, keeping up to date with the latest products and other general administrative duties. Xplan provides indispensable support in these areas and more, easing the pressure on these professionals and allowing firms to maximise both productivity and efficiency.
How Will Xplan Help My Business?
Known widely in Australia and New Zealand for its features, capabilities and user-friendly interface, Iress’s software supports both large and small IFAs. Benefits of X-plan include:
Flexibility
Offering a wide range of packages, firms are able to subscribe to the modules that will benefit their business. Flexible and scalable, it has the capability to replicate the majority of processes so can be customised to the specific needs of each individual firm.
Management
Xplan offers the ability to store and manage client data such as personal details, financial preferences and investment goals. These investments can also be managed within the software enabling firms to monitor portfolios, analyse risk and perform market research.
Administration
Streamlining work flows and reducing the need for paperwork, administrative duties can be completed within the software. Financial advice firms can create forecasts, generate a range of reports, create financial plans and recommendations, and so much more.
Integration
Working alongside a range of other financial software and tools, X-plan can easily be incorporated into your business. From accounting software to online trading platforms, it has great integration capabilities.
How Much Does X-plan Cost?
Iress offers a range of packages to cater to individual needs. From basic packages to portfolio, research and investment packages, firms can build software as they like, adding additional modules as their business needs change. The cost of Xplan is entirely dependent on the modules required and the number of users that would need access to the software. There is usually a monthly fee for each user.
Firms often choose software such as X plan to free up the schedule of financial advisers and other professionals, in a similar way to the role that a paraplanner would have. It’s beneficial for companies to discover whether using software or working with a paraplanner is more time and cost effective.
Consider Outsourcing Your Paraplanning Needs
For an efficient, flexible and affordable solution, consider outsourcing your paraplanning needs. TNW Solutions are available as and when you need, without the ongoing monthly cost of financial planning and wealth management software. Get in touch today to discuss the needs of your firm and learn more about how our solutions can work for you.
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