Financial planning software company, Midwinter has today announced the release of its cloud based advice solution – AdviceOS, to State Super Financial Services (SSFS). SSFS has deployed Midwinter’s flagship software offering across its entire adviser network nationwide, with the initial phase of the implementation now successfully completed.

SSFS established the Future Operation Model Project with the goal of introducing new capabilities to the business that enhance the services provided to their clients and business operations, as well as creating new ways of working in a timely manner to prepare the business for future growth.

Since being selected as part of its Future Operating Model, Midwinter has been working closely with both SSFS and Ernst and Young as business partners as a part of the SSFS business transformation program.

Speaking of the decision to implement Midwinter’s AdviceOS throughout the business, Managing Director of SSFS – Michael Monaghan stated, “SSFS are pursuing a growth strategy that allows us to diversify our business operating model, services and customers. This has required a strategic approach to investments in future capabilities and the delivery of the business transformation program. Midwinter has been a key partner through the first phase of this transformation program.”

“We have successfully implemented an end-to end advice system that has accelerated the delivery of our advice process and allowed us to bypass para-planning completely. Midwinter is currently implementing a number of efficiencies for the business via straight through processing and further enhanced our market-leading compliance functionality.”

“Midwinter’s advice solution will allow SSFS to scale for future progression and expansion, meeting the objectives of our firm’s growth strategies. Through AdviceOS, Midwinter has provided SSFS with a cloud based platform that will allow us to introduce new products and services and to deliver advice on our client’s terms.”

Some of the new innovative features in AdviceOS introduced as a result of the partnership with SSFS include real-time compliance checklists, industry leading retirement modelling tools, and a built-in management approval process where certain recommendations require management approval to continue. The combination of the compliance checklist and the management approval processes offers SSFS a significant comparative advantage in managing the delivery of quality advice and maintaining a high level of compliance.

Several advantages have also been afforded to SSFS because of the cloud-based nature of AdviceOS. Midwinter’s philosophy has been to attempt to cater for SSFS business requirements to be met through configuration rather than customisation. While this may appear a small point, it has ensured that SSFS will remain on Midwinter’s main code branch of AdviceOS. This will guarantee that SSFS will always be utilising the latest enhancements and upgrades as soon as they are released. The benefits of this cloud based approach to SSFS are reduced costs and adviser gaining access to latest features quickly.

Managing Director of Midwinter Financial Services, Julian Plummer has welcomed the partnership with SSFS, saying “We are excited to have been selected to be a part of SSFS’s digital transformation – a paperless office that will shift SSFS from pre-internet, to a system that will not merely be in line with the banks, but surpass them. There have been some extremely challenging deadlines, but we are pleased to report that together with Ernst and Young, we have successfully progressed SSFS through the first phase of this transformation.” Mr Plummer went on the say that “we look forward to implementing Registry and Digital as part of stage two in the coming months.”

Source: Midwinter

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