What is Xplan by Iress & How Does it Help Mortgage Brokers?

Struggling with financial software that’s more headache than help?

It’s a common concern among financial advisers.

Complex interfaces and overwhelming features can make you wish for simpler times.

But don’t throw in the towel just yet.

Xplan Software by Iress might be the solution you’ve been waiting for.

Designed to streamline financial planning, Xplan aims to make your life easier.

Let’s dive into what Xplan offers and how it can revolutionise your business.

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Overview of Xplan Software

Xplan is a comprehensive financial planning and wealth management software developed by Iress. It is designed to support advisory practices of all sizes, from individual financial advisers (IFAs) to large networks. The software aims to reduce administration, maximise business opportunities, and deliver impactful financial advice.

Key Features and Capabilities of Xplan

Client Portfolio Management

Xplan facilitates the management of client portfolios and allows advisers to review strategies against financial objectives. It provides tools for detailed portfolio analysis and reporting, helping advisers make informed decisions.

Client Documentation and Communication

The software offers secure two-way messaging within a client portal, ensuring confidential communication. It also centralises document management, making it easy to access and organise client documents. This enhances client communication and engagement.

Comprehensive Reporting and Workflow Management

Xplan includes full workflow management capabilities to streamline business processes. Its comprehensive reporting tools provide better business insights, simplifying business management and improving operational efficiency.

Adaptability and Customisation

Xplan is adjustable to the specific needs of any business, whether simple or complex. It offers a flexible, configurable, and modular solution. The interface and functionalities can be customised to suit different advisory models, making it a versatile tool for financial advisers.

Benefits of Using Xplan

Efficiency Improvements

Xplan helps save time in client onboarding and other administrative tasks. By automating routine processes, it enhances productivity and reduces the manual workload for advisers.

Compliance and Risk Management

The software streamlines compliance processes to reduce risks and ensures adherence to regulatory requirements. It provides tools for effective risk management, helping advisers maintain compliance.

Data Security

Xplan ensures the secure handling of client data within the software ecosystem. It employs advanced security measures to protect sensitive information and complies with data protection regulations.

User Accessibility

The software features an online portal for client interaction, enhancing client engagement and satisfaction. Clients can easily access their financial information, improving their overall experience.

Feedback from Users

Xplan has received positive feedback for providing significant time savings and operational efficiency. Trusted by over 9,000 businesses globally, it has been consistently rated as Australia’s best advice software for 12 consecutive years by Investment Trends.

New Features and Developments in 2025

Enhanced Customisation and Integration

in 2025, Xplan continues to expand its customisability and integration capabilities through an open API architecture. This allows for seamless integration with other tech systems, enabling advisory practices to build a personalised tech ecosystem.

Client Engagement Tools

The software will see further improvements in client engagement interfaces and tools. These enhancements aim to increase client satisfaction and retention by providing better interaction features.

Compliance and Security Updates

Xplan will introduce updated compliance tools to meet the latest industry standards. Enhanced security measures will be implemented to protect client data, ensuring continuous regulatory compliance.

Integration and Connectivity

API and Ecosystem Compatibility

Xplan supports building a personalised tech ecosystem with its open API architecture. This facilitates integration with other tools and systems, ensuring seamless connectivity with various tech solutions.

Support for Various Advice Models

The software accommodates different advice delivery models, including retail, face-to-face, online, and telephone. Its flexibility supports diverse advisory practices, enhancing the ability to deliver tailored financial advice.

Internationally Accessible

Xplan is used by businesses worldwide, supporting global financial advisory practices. It is adaptable to different regulatory environments and market conditions, making it a valuable tool for international advisers.

Strategic Planning and Future Roadmap

Continuous Improvement Strategy

Iress is committed to the ongoing development of Xplan based on user feedback and technological advancements. The focus is on enhancing all aspects of the software to deliver innovative solutions.

Focus on Scalability and Flexibility

Plans are in place to expand Xplan’s capabilities to support growing businesses and adapt to changing market conditions. This ensures the software remains relevant and effective for advisory practices of all sizes.

Testimonials and Case Studies

Quote from John Hazell, Principal Partner, Birling Wealth Management

John Hazell praises Xplan for its ability to save significant time during client onboarding processes. He highlights the operational efficiency and client satisfaction achieved with the software.

Business Impact

Case studies demonstrate how Xplan has improved operational efficiency and client satisfaction in diverse advisory firms. Real-world examples showcase the software’s impact on business success, making it a trusted tool for financial advisers.

Training and Support

Comprehensive Training Programs

Iress offers extensive training programs to help users get the most out of Xplan. These programs include online tutorials, webinars, and in-person training sessions. The goal is to ensure that all users, regardless of their technical proficiency, can effectively use the software to its full potential.

Dedicated Support Team

A dedicated support team is available to assist users with any issues or questions they may have. This team provides timely and effective solutions, ensuring that any disruptions to business operations are minimised. The support team is knowledgeable about the software and can provide expert advice and troubleshooting.

User Community and Resources

Xplan users have access to a vibrant online community where they can share tips, ask questions, and learn from each other’s experiences. Additionally, Iress provides a wealth of resources, including user guides, FAQs, and best practice articles, to help users navigate the software and maximise its benefits.

Future Trends in Financial Planning Software

Artificial Intelligence and Machine Learning

The integration of artificial intelligence (AI) and machine learning (ML) into financial planning software is a growing trend. These technologies can provide deeper insights and more accurate predictions, helping advisers make better decisions. Xplan is expected to incorporate more AI and ML features in the future to enhance its analytical capabilities.

Increased Focus on User Experience

As the financial planning industry becomes more competitive, the user experience (UX) of software tools is becoming increasingly important. Future developments in Xplan will likely focus on improving UX, making the software more intuitive and user-friendly. This includes simplifying navigation, enhancing visual design, and providing more personalised user experiences.

Greater Emphasis on Data Analytics

Data analytics is becoming a crucial component of financial planning. Future updates to Xplan are expected to include more advanced data analytics tools, allowing advisers to gain deeper insights into client behaviour and market trends. This will enable more informed decision-making and better client outcomes.

Conclusion

Xplan by Iress is a powerful tool for financial advisers, offering a wide range of features and benefits. From client portfolio management to compliance and risk management, Xplan provides the tools needed to streamline operations and enhance client satisfaction. With continuous improvements and a focus on future trends, Xplan is well-positioned to remain a leading financial planning software in the years to come.

Track My Trail Team

The Track My Trail Team develops software to simplify trail book management for mortgage brokers. Their tools provide fast and practical insights to help brokers get the most out of their trail books.