Iress ContributorAMA: I'm Lachlan Fuller, Xplan product manager for Visualise & Client Portal, Ask Me Anything!
Advisely Contributor
lachlan.fullerlachlan.fullerlachlan.fullerhas there been much progress with the client portal/changes? I have not pushed this much further with our business (I want to) but I want there to be a bit more of a “need” for the client to use and adapt to it.
Has there been any consideration for open banking integration in the client portal? A few examples, if you send the client portal access to a client and you haven’t established a partner the client cannot add any details of the partner. The 2FA with the email option still had issues when I last used it and clients were not receiving the email, it was a big barrier to entry. I do understand that there maybe some restrictions from licencees, so you maybe able to fill me in?
What about being able to see your goals as a client and the progress you have made? Or sharing the Xtools modelling scenario that has been recommended, or portfolio tracking to the set goal. One thing I have been waiting for is a review questionnaire for the client where they can see all of the current personal information we have on them that they can simple update profile to the meeting which feeds back and updates XPLAN?
Appreciate your time and efforts, you guys are doing a good job
Iress ContributorThanks Luke,
We are discussing the Open Banking piece in detail as a potential option to improve the fact finding experience from the perspective of the client. It's certainly something that has gained interest in the recent past and I believe it offers a path to a more seamless experience.
For 2FA your Xplan site needs to have this enabled and it is pushed out to all users, so it could be the decision of a licensee not to impose this on all users. Relevant to any potential changes to 2FA is that we are very close to the rolling out our new authentication screens that retires a legacy dependency in the application. The practical effect is that it will be easier and quicker to rollout more changes in the authentication space including, potentially, the use of authentication apps which are available to Xplan users, just not clients currently.
Other items we are looking at include, but are not limited to goal tracking, embedding strategy modelling and giving the client more visual feedback on how their financial plan is moving them closer to meeting their objectives. At the heart of this is allowing Client Portal to help advisers promote the value of their advice to the client.
On the review questionnaire, much of this should already be catered for in the fact find which can be provided as a review, inclusive of existing information. We are delivering a comprehensive output report to compliment this to give the adviser a clear picture on what has (and has not) changed.
Thanks for the kind words, don't hesitate to get in touch directly if you wish to discuss any of the above in more detail.
Lachlan
Hi Lachlan,
We're keen to know more about the expected ETA for the "comprehensive report" of what data has been\hasn't been changed when a client updates a fact find via the client portal. The overwriting of existing data has been our biggest hesitation in moving our clients fully to the portal for fact find completion ahead of a review. My understanding was that it was on the roadmap for delivery this year- if you can provide any clearer dates it would be really appreciated!
Sharyn
- lachlan.fuller
Hi Sharyn,
Thanks for the question!
Based on our latest estimates we anticipate releasing this work into Client Portal in Q1 next year. I am aware that we've had to move this date a number of occassions. But I can assure you that the team's full focus is on delivery of this feature.
We are very excited by the prospect of introducing it and based on the question from yourself and the regular questions I get from others about this item, I cannot wait to see it in production.
Lachlan
Hi Sharyn,
We had some clients complete updates online before they come in for their review, but because we don't get a run down of what they have updated, we've decided not to bother at this point as we had to go through it all again anyway.
We really wanted it to produce a summary of what the client had changed so we could discuss the changes with them if relevant.
And there were too many bits they can't edit anyway - there's no Estate planning yet, and the way we enter their bank accounts (In IPS) meant that they couldn't update the balances, which is one of the bits we wanted them to take on!
We don't even really use the online fact find for initial clients either anymore, because there were too many sections where the data wasn't being entered in a way that came through how we want it to. Or whole sections that aren't there (estate planning - looking at you again!!)
And using Planner Central means that we have little to no control/customisation :(
- lachlan.fuller
Hi Claire,
In its current state you do not get a full report of the changes made, though they are logged in the audit trail. Also, there is the option to request a more text based response from the client with your own custom questions, examples I have seen are:
Q. Are there any changes to your personal or financial that you wish to share and discuss during our review?
Q Have you had any change to your income or employment?
Q Can you confirm if you have made any changes to you Wills or Powers of Attorney?With multiple fact find journeys available to be configured, you can tailor the content for the client.
Regarding the comment on the bank balance, this could be a question you include as well. Equally you could request a bank statement and get the client to upload it securely through the messaging service in Client Portal.
Lachlan
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