PractiFI will be integrating its business management platform with Midwinter’s AdviceOS financial planning software. Users will be able to have dual access to both systems and will allow advisers to run AdviceOS from PractiFI’s single client view.
PractiFI chief executive Glen Elliott said, “Our partnership with Midwinter is really exciting because it automates the advice process even further.”
Midwinter managing director Julian Plummer also commented on the partnership, saying that “by integrating with PractiFI we have opened up the options further to include a world-class CRM that speaks to our own state-of-the-art modelling tools with ease”.
“We expect more financial planning practices to follow the lead of combining our two solutions to develop cutting-edge, streamlined advice,” Mr Plummer added.
Salesforce $ + Practifi $ + Midwinter $ = Lots of $s. I can get full Office 365 suite for ~ $30 per month. FP software costs need to offer more for less
Does this mean that Midwinter will be phasing out its CRM module, and just focusing on those areas of functionality specific to financial planning?
We won’t be phasing out our CRM module – it will continue to be used by a great many of our users. Midwinter has built a focused CRM for financial planners that flows directly into our modelling tools. However, we aren’t so presumptuous to assume that our CRM meets every adviser’s specific requirements, or that we know better than the tech guys working on CRM specific solutions 24/7. That’s why we are happy to integrate with PractiFI. We will do what we do best, they will do what they do best – and that way we can continue to offer advisers choice.
@Jim the PractiFI and Midwinter integration is product-level integration which means it’s supported by both PractiFI and Midwinter at no additional cost to advisers. It allows advisers to use a best-of-breed toolset to run their businesses on which simplifies not only the advice process but business management overall.
Feel free to reach out if you’d like to get more info or see it action.
trying to get 2 separate software packages to hang together does not equal a simplified financial advice process. It typically equals integration pain points, inefficiency and unexpected cost blowout.
Agree… and linking MidW to Prac is like putting an anchor to Prac… as MidW is old tech stack and limited future
This press release is a C + at best.