RESS today announced a software integration between its leading advice and wealth management platform, XPLAN, and Class Super, the leading cloud SMSF administration software.
This integration means users of XPLAN and Class can access up-to-date member and investment information and dashboard views, directly from XPLAN. These includes fund details, member details and contribution limits. In addition, a range of reports for SMSF clients can be run in XPLAN using Class data including Contribution Caps, Member Benefit Statements, Statement of Financial Position and Capital Gains.
Full transactional details can also be pushed from XPLAN to Class Super for a client’s accountant to maintain current information for the SMSF.
Aaron Knowles, Executive Product Manager for Wealth, at IRESS explains: “We are increasingly seeing accountants and wealth managers operating together to provide consolidated services to the SMSF sector. This integration between Class Super and XPLAN increases efficiency and reduces operating costs for users and their clients.
“With the stringent ATO auditing and reporting requirements on SMSF clients, it is essential for portfolio managers to be confident they hold a real-time, unified view of the SMSF. This integration with Class Super combines this reassurance with XPLAN’s full portfolio management capability.”
Kevin Bungard, CEO at Class adds: “The integration between XPLAN and Class Super means that the key information advisers need about their clients’ SMSFs is now only a click away. With 77% of SMSF planners currently having some working relationship with accountants, and 85% proposing to do so by 2016*, this is an industry changing development and one that will deliver significant business efficiencies and competitive advantage for advisers.”
Perks, a BRW Top 50 accounting firm, said: “Perks was excited to learn about the integration between XPLAN and Class. This will enable our financial planners and accountants to work even more effectively together and drive business efficiency and improved service levels for our clients. This relationship is set to deliver significant change to the industry, and we look forward to the next phase of integration.”
The Class integration is available from XPLAN version 2.13 onwards. Further functionality will be added to future software releases.
*Investment Trends, April 2014 SMSF Planner Report, based on a survey of 489 financial planners who provide advice to SMSF clients.
