Defaqto has extended its capability with the addition of advanced integration with Iress’s back-office system, Xplan.
Integration between Xplan and Engage improves accuracy for advisers and reduces compliance risk, so they have a clear picture of their client’s portfolio, eliminating the need to re-key details, making the process faster, less prone to errors and more efficient.
How does it work?
Once the integration is set up in Engage by Defaqto’s support team, existing users can link to their Xplan account by simply entering their Xplan login details into Engage.
This latest update allows two-way integration for Engage users with Xplan: bringing advisers’ customer data, product data and research together seamlessly.
With Iress Xplan and Defaqto Engage, client data and plans are better connected. On executing a workflow in Engage, the information is automatically sent from Engage through to Xplan eliminating the need to re-key details, making the process faster, less prone to errors and more efficient.
Through a range of workflows, advisers can manage their financial planning process all in one place – from risk profiling through to product, platform and fund research and recommendation, generating an automatic audit trail in the process to help satisfy regulatory requirements.
Paul Tinkler, head of insight and consulting (Investment and Protection) says: “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.
“Traditionally, advisers have had to use disparate systems working in silo to execute tasks. Navigating this can not only be expensive but can also cost precious time that could be better spent with clients.
“With the introduction of Xplan back office integration to its existing back office integration offer which includes Intelligent Office and bespoke developments, Engage now supports two of the most widely used pieces of back office software.”
