Planners’ satisfaction with their most-used software has reached a five-year high, increasing only slightly from 2012.
But according to Investment Trends 2013 Planner Technology Report, advisers are still looking for better ‘ease of use’ from their software providers.
Midwinter had the largest increase in users’ overall satisfaction from 2012, and the highest average overall satisfaction rating. Relative to the industry, it scored notably better for ease of use, producing simple plans and scenario modelling.
“Among the two large players, XPLAN had higher satisfaction than COIN, and the gap between them increased from last year,” said Investment Trends senior analyst Recep Peker. “Given the acquisition of COIN by Rubik, it will be interesting to see what happens to COIN’s satisfaction ratings following their new and upcoming developments including the refresh of the COIN user experience.”
“Versus last year, Australia’s planning software providers increased adviser satisfaction the most with constructing portfolios, capturing fact-find information, helping select investments and producing client review reports,” said Peker. “This reflects the extensive development work undertaken in these areas over the last 18 months.”
AdviserNETgain had the highest satisfaction ratings for value for money, producing comprehensive financial plans and producing client review reports.
“Even with planners’ clients’ needs becoming more complex, and a greater compliance burden placed on planners’ shoulders, software providers have continued to shave precious minutes from the time it takes to produce the average SoA,” said Peker. “Planners now estimate it to take over an hour less to produce a SoA than it did six years ago.”
“The greatest time savings are from editing and personalising the document, and calculations, modelling and projections.”
Top industries for 2013
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