Defaqto went live with its integration to Iress’s back-office system, Xplan, yesterday (June 20) allowing advisers to link their accounts and client data.
The integration removes the need for advisers to re-key in data, by sending information entered into Defaqto’s financial planning software Engage automatically through to Xplan.
Defaqto, which is owned by the same technology firm as SimplyBiz, said the integration improves accuracy for advisers and reduces compliance risk, giving them a clear picture of their clients’ portfolios and making the process less prone to errors.
Existing Engage by Defaqto users can link to their Xplan account by entering their Xplan login details into Engage.
“Traditionally, advisers have had to use disparate systems working in silo to execute tasks,” said Defaqto’s insight and consulting head, Paul Tinkler.
“Navigating this can not only be expensive but can also cost precious time that could be better spent with clients.”
Tinkler said the addition of Xplan to its existing back office integration - which also includes Intelligent Office and a number of bespoke developments - means Engage now supports “two of the most widely used pieces of back office software”.
“We have developed Engage as an end-to-end financial planning tool and integration with advisers’ back office systems is a big part of this,” Tinkler added.