For the third consecutive year, Midwinter has been voted first for planner satisfaction in the latest Investment Trends report, in a year when the group expanded to 15% market share.
Released today, the Investment Trends 2011 Planner Technology Report asked 1,394 financial planners across Australia to rank financial planning software market. The results found Midwinter topped its competitors across ten service elements, including scenario modelling, production of complex plans, constructing portfolios, tax planning and speed.
Midwinter reported 2011 saw the best year for overall market share growth, up 4% to 15%, with its software platform holding the largest percentage increase in primary users during the year.
"We take particular pride in our growth in the market because most of our clients make a conscious decision to buy the software, it isn't mandated a lot by dealer groups, which I think puts it in a favourable light," Julian Plummer, managing director, Midwinter, told Financial Standard.
Investment Trends also used a new metric, a net promoter score, which measures how likely it is that an adviser would recommend their planning software to another adviser.
Midwinter was the only provider to achieve an overall positive score.
"The main distinction between us and other software providers is all our providers, support staff and trainers are all RG146, they have financial planning backgrounds."
"We speak the language of advisers."
While unable to say how many users they do have, Plummer could say Midwinter had several thousands users.
Midwinter is hosting its own 2011 National Advice Roadshow during August and September with around 1,400 advisers expected to attend.