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Top 5 Questions about Xplan

Jul / 06 / 2021

Xplan has the potential to increase efficiency in all areas of your financial advisory business, and ultimately improve your bottom line. But more often than not, when people use such a sophisticated, comprehensive program, it’s very easy to overlook many of the fantastic features Xplan has to offer. After all, nobody can be expected to know all of the features available when the list of capabilities and solutions is so vast. So how can you get the most out of your Xplan site? That’s where we come in! 

What is Xplan?

Xplan is sophisticated and comprehensive financial planning software that is capable of managing all aspects of an advice practice of any size. It helps to improve the efficiency of workflow management, automating processes and document preparation, which reduces and optimises administration tasks. 

With real-time portfolio updates and innovative financial modelling tools, Xplan helps to prepare top-quality advice for your clients while managing compliance and risk management. 

Can I get help with Xplan coding?

Learning to code is like learning another language. While it’s a great skill to have, it’s a very time-consuming, and often frustrating process. 

There are a few different ways to have a go at figuring out the coding for yourself. You could use the XWord Toolbar, check out the IRESS Template Library for relevant code, or spend some time watching IRESS training videos. You may be able to figure it out for yourself, and it’s such a fulfilling feeling to see your code working seamlessly in action! But, in so many cases that we see, advisers, paraplanners and support staff are spending way too much time guessing their way through coding. They are having to spend (or should we say waste?) a significant amount of time working on post-merge editing. 

Coding exists to make your work quicker and easier, so for the sake of efficiency and promptness, it makes sense to have your coding fine-tuned by an Xplan coding specialist.  

Post-merge editing SoA’s and other documents, as well as troubleshooting incorrect code, is something that is going to end up being very time-consuming. Specialist PMC ensures your coding is input correctly, so your time is freed up for you to focus on what you’re good at — providing financial advice. 

Can Xplan be customised to suit my needs?

Moving from a Licensee or managed site to your own custom Xplan gives you the opportunity to customise your Xplan to exactly suit the processes and goals of your advice business. Say goodbye to sticking to the mould of your licensee site just because you had to, and say hello to customised thread & advice document management, templates and coding, that perfectly match the way your business does things.  

Xplan can be customised completely to fit in with the way your practice manages each step of the advice process, administration and customer service. Customising your threads to suit your workflow means that each administrative task can be assigned and performed as efficiently as possible to free up time or reduce overhead costs. With automation, custom templates, and a clear-cut process to follow, you and your team will move quickly and smoothly through each assigned task without having to waste time with ineffective communication regarding what needs to be done. 

Customising your wizards and advice documentation templates means that you have the power to create your SoA’s in the way that suits you best. With easy-to-follow steps built around your processes, your support staff will have a solid framework to follow to ensure advice documents are being created in less time, with fewer errors. 

 Can Xplan integrate with other technology?

If you are looking to build your own tech stack, then you may be excited to learn that Xplan can integrate with several third-party programs. For example, if you have a favourite program that you use for practice management, custom integration means that the functionality of the software can be embedded within the Xplan user interface. You could have a number of different programs all working together to provide you with data in one place. 

There are dozens of live integrations available relating to service types such as practice management, marketing, financial modelling & advice, customer relationship management, workflow automation and client portals, to name a few. 

We see a lot of advisers wanting to pick and choose different pieces of technology to use in the day to day running of their practice. It’s wise to seek advice regarding third-party integrations and how they can work for you before purchasing and maintaining multiple systems. Paying for software unnecessarily can become quite costly very quickly.

We can help you decide if integrating with third-party technology is going to be beneficial for your business. It’s possible that with a bit of Xplan optimisation and customisation, you can perform all the tasks you need with just one program.

Can I get Xplan training?

A common theme that we hear from advisers is that they don’t know what they don’t know. Xplan is a comprehensive program capable of so much, but if you don’t know exactly what it’s capable of, then you won’t even realise what you’re missing out on. So many practices are only utilising such a small portion of the software simply because they don’t realise there are countless other functions available. 

At Specialist PMC, we work with you to identify areas of Xplan that are being underutilised and teach you how to get the most out of this fantastic software. We understand that everyone’s circumstances are unique, so we offer a bespoke service, tailoring solutions to suit your specific business needs. 

While Iress provide online Xplan training, our training and specific solutions dive much deeper, addressing unique issues that are specific to your business, to provide a comprehensive solution that’s perfect for you.  We provide Xplan training for advisers and support staff all across Australia, including rural areas. We’re committed to delivering ongoing Xplan support to ensure that your business is always making the most of your software. 

At Specialist PMC, we tailor our services to suit your circumstances, so you can get the Xplan help you need at an affordable price. Contact us today to learn more about how we can improve your business by optimising the way you use Xplan.