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Iress launches lifetime cashflow planning tool

08 January 2013  |  1015 views  |  0 Source: Iress

Iress announced today the extension of its UK wealth platform to include an integrated Lifetime Cashflow Planning tool, XTOOLS+.

XTOOLS+ is a strategy-based modelling tool, tailored for the analysis of financial planning scenarios across multiple entities including individual client, partner and trusts, allowing for the easy comparison and modelling of multiple financial strategies.

Specifically, XTOOLs+ provides capability for:

• holistic analysis of client objectives and cash flow (including income, liabilities and expenditure)
• modelling of government assistance and taxation (including income taxation, Capital Gains taxation, Bond taxation and Inheritance Taxation)
• modelling of investment holdings, property, pensions and non-financial (personal) assets
• analysis and modelling over any timeframe

XTOOLS+ is a new component of the XPLAN wealth platform from IRESS that includes CRM, financial planning tools, portfolio management, and compliance oversight. As a part of the extensive XPLAN platform it enables the reuse of data from other modules, saving re-entry of data thus saving time and cost, whilst improving accuracy.

Mark Loosmore, IRESS' Business Development Director comments "RDR has brought clear focus on advisers to demonstrate the value of advice and their services. Many advisers are responding by producing planning services that explore the range of potential financial strategies open to their clients. XTOOLS+ is ideal to help these advisers in this planning process, speeding up the generation of financial planning reports."

James Stevenson, Head of Adviser Technology at SBG commented, "Cashflow planning is an area we expect to grow significantly in the UK post RDR as advisers look at how they can extend their service proposition to demonstrate ongoing value to a client and justify recurring fees. This latest development from IRESS is also further testimony to their commitment to the UK market and evidence of the continuous programme of extending the XPLAN product with new functionality to provide a comcomplete adviser and practice management technology solution". 

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