As part of a program of regular updates throughout the year, XPLAN version 2.18 includes changes to streamline the cashflow process and enhanced functionality of sustainable income tools.
The cashflow enhancement streamlines business processes, aiming to save time for the adviser and eliminate the possibility of human error.
The adviser can now enter the amount of the withdrawal required and XPLAN will display the most tax efficient encashment method – by surrender of segments, partial encashment or a combination of the two. Connected to this enhancement, IRESS has also improved the visual engagement and functionality of its sustainable income tool, which – based on set growth and income rates – now automatically calculates and displays an optimised amount, a process which saves time and ensures greater accuracy.
A legislative update is also available for XPLAN incorporating new rates and allowances changed in the Budget announcement.
Mark Loosmore, UK Executive General Manager (Wealth), IRESS said:
“Having the right technology in place is key to any successful business model and never more so than for today’s advice practice.
“These enhancements are in answer to feedback we’ve been receiving from our adviser partners who are experiencing an increased client demand for retirement income flexibility. All the improvements we’ve delivered in this latest update are designed to help advisers plan more effectively and efficiently. We’ve automated processes that would otherwise require manual work and calculations, helping advisers streamline business processes and eliminating the possibility of human error.”
