Netwealth launches series of major platform updates

Over the past 12 months, Netwealth has introduced a series of major updates to its platform designed to improve adviser efficiency and enhance the client experience.

Netwealth has made considerable changes to its adviser experience to provide a “more cohesive and accessible experience” for its users. The new desktop interface now features a simplified layout making it easier to navigate.

Matt Heine, chief executive and managing director of Netwealth, said the firm is prioritising improvements to both sides of the user experience.

“We have a laser focus on trying to improve the user interface, aiming to help advisers find information and lodge transactions faster. Over the coming months, our clients will see continuous improvements in this area,” Heine said.

In an effort to improve efficiency and streamline the advice process, the platform provider has also introduced automated customised records of advice (ROAs), allowing advisers to input specific predefined text, such as a rebalance reason, and customise the client disclaimer for their specific needs.

In addition to this, the firm has “heavily invested” in its reporting toolset to help advisers save time on client reporting, introducing features such as pre-configurable report settings, the ability to create custom report templates or packs, and the ability to generate multiple reports for multiple accounts simultaneously.

In response to rising interest in global markets, Netwealth has also launched straight through processing and execution of international equities on 16 exchanges to support T+1 settlements and access to live trading and limit orders, “significantly reducing friction in the trading process”, according to the firm.

The Netwealth platform also now supports over 20 data and software integrations and provides daily data feeds of client data to third-party software, and clients are now able to access and approve adviser-initiated instructions through the Netwealth app, further streamlining the advice process.

Heine said the integration of technology into Netwealth’s service offering will help advisers and clients move through the advice process more efficiently.

“Netwealth’s open architecture approach to software development provides support for multiple integration options with a wide selection of apps, software and data sources. This reduces double handling of data, improves accuracy, and enhances security,” he said.

“People expect to manage their wealth from their mobile phones. At Netwealth, our focus on the client portal and mobile app helps advisers deliver on this goal while saving time on paperwork and signatures.”

Heine said the new suite of improvements highlight the firm’s commitment to improving the platform for advisers and their clients, and that more enhancements for the platform are in the pipeline.

“For decades, technology has driven business efficiency and Netwealth continues to help lead the charge. Recognising the industry’s push to do more with less, Netwealth has released numerous features over the past 12 months to support this goal,” he said.

“We are excited about the future and the transformative power of technology in our industry. These latest updates demonstrate our ongoing efforts to make advisers' work more efficient and impactful.

“As we harness the power of data, technology, and connectivity, our focus remains steadfast on delivering innovative products and services that help our clients achieve their goals with greater ease and confidence.”