Midwinter has responded to a financial adviser-driven push to integrate their AdviceOS financial planning software with the online accounting tool Xero Cashbook.
Speaking to ifa, Midwinter managing director Julian Plummer said the partnership is a response to feedback from financial advisers.
“We’ve had quite a few advisers ask us about this over the last couple of months – particularly over social media – and it was that advice feedback that led us in this direction and it fits neatly into our cloud-based API-driven strategy.” Mr Plummer said.
In a joint statement, Xero and Midwinter said the integration of these two software systems in the cloud would enable advisers to obtain “accurate information in real time for the adviser and client”.
The integration is said to enable advisers “to make more informed decisions and provide higher value services for their client”.
Mr Plummer highlighted the ability of the integration to bridge the gap between advisers and accountants.
“Advisers can have the elusive cash flow conversation that’s normally restricting to accountants, and accountants can now access the scaled advice components of AdviceOS,” he said.
Mr Plummer also suggested users could “take advantage of the introduction of the new limited AFSL which authorised advice on SMSFs, existing client superannuation holdings and a range of class of product advice.”
Chris Ridd, managing director of Xero, said: “In response to growing demand, Xero is entering the financial advisory channel. Cashbook is a powerful tool that lets professional advisers amplify their advice.”
SUBSCRIBE TO THE IFA DAILY BULLETIN
17 Nov 2017Adviser regulation loosens under TrumpBy Aleks Vickovich
17 Nov 2017Advisers called on to drive ESG discussionBy Jessica Yun
17 Nov 2017Managed Accounts completes Linear acquisitionBy Staff Reporter
17 Nov 2017Zurich takes out AFA Consumer Choice awardBy Aleks Vickovich
16 Nov 2017Bell Potter pays $360k fineBy Staff Reporter
16 Nov 2017SSM vote highlights LGBTI advice issuesBy Aleks Vickovich
- view all