Netwealth revamps adviser technology

Netwealth Advice Group head Simon Micallef said the advancing of its technology program Model Office, through its Pathway Licensee Service business, will reduce unnecessary information and establish greater efficiencies for advisers.

“Our aim is to continue to evolve financial planning technology solutions for advisers to assist them in servicing their clients, increase efficiencies, reduce unnecessary information and to make financial planning software easier,” Mr Micallef said.

Mr Micallef said two adviser technology committees have been established – which consist of members from the “IFA market” and Netwealth dealer group Financial Planning Services Australia – to assist with the improving of its technology software.

“The establishment of the Adviser technology committees is an important step in enhancing this technology program so that the technology reflects what the advisers want,” Mr Micallef said.

“We have recruited staff from Iress and Coin together with other experienced personnel that have worked in financial planning practices to ensure we have the advanced technology that advisers need supported by a strong team,” he said.

Mr Micallef added that during the process of improving its financial planning technology, its committees have completely revamped all of the financial planning adviser tools to ensure scalable documents across fact finds and SOAs.

“The advancements being made in our technology [are] taking financial planning software to a new level. We presently provide our Model Office solution to over 500 users across the country and all advisers have an opportunity to migrate to this program,” Mr Micallef said.