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Class launches Xplan integration

Class has completed its integration with Iress' financial software solution Xplan, with the offering now available for new Class Super and Class Portfolio customers as a public pilot.

The data feed will enable financial advisers and accountants to seamlessly share a single, consistent and up to date view of their client's wealth, across both SMSF and non-SMSF entities.

Class believes the integration will save advisers and accountants up to four hours on each report review and up to eight hours on advice documents per client.

The feed includes all investments held within Class, including unlisted assets such as direct property. This will allow customers to maintain a consistent portfolio position, while reducing double-data entry into both systems, Class said.

"We know that the provision of automation is a key issue for our current and future customers, as reflected in the recent Industry Trends SMSF Accountant Report," Class chief executive Andrew Russell said.

"We aim to remove significant technical complexity and the use of time while solving real customer problems such as removing manual entry through feed automation.

"Time is our customers' most valuable resource and we remain focused on helping them save that by providing even more value for money from their Class subscription."

The data feed to Xplan integrates with both Class' super and portfolio offerings, enabling advisers to 'set and forget' manual time-consuming tasks so they can spend their time on urgent requests, relationship building and minimising errors.

"In order for technology companies to thrive in the modern world, they must look to partner with other businesses in the wider technology ecosystem to continually deliver value for money and cross-platform functionality for customers," Russell said.

"Under our re-imagination strategy we want to become one of Australia's most trusted technology partners, and integrations like this with Iress' Xplan are an example of how we want to partner with industry."

In addition to investment holdings, the Class data feed also includes over 30 different cash transaction types (for example pension payments, contributions, income, actuarial expenses, property expenses).

Xplan users can pick which accounts they want to include from Class and which they would want to receive from the source. They can also decide which transaction history they want to maintain prior to switching on the integration and can easily reverse decisions at a later date if required.

Read more: ClassXplanIressAndrew Russell
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