Netwealth unveils suite of reporting enhancements

Netwealth has announced the launch of a suite of new enhancements to its reporting tools for advisers designed to make it easier for them to develop reports and communicate information to their clients.

The new features give advisers access to more than 20 customisable reports, including return contribution, adviser fee statements, and Centrelink schedules. The new features also include the ability to set and save reporting preferences and apply them to reports generated to save time on future reports.

Advisers will be able to organise clients into groups and run reports for multiple accounts at once, making it easier to generate reports in bulk, improving their efficiency. They are able to access generated reports for up to seven days.

“These new tools are designed to help financial advisers deliver personalised, insightful reports that simplify complex data and tell compelling investment stories to clients, whilst still delivering on the promise of scale and adviser efficiency,” Netwealth said.

The changes also introduce an “intuitive drag-and-drop interface” that allows advisers to create their own report packs that highlight the most important aspects of a report for their clients.

Speaking on the announcement, Netwealth Investments chief executive and managing director Matt Heine said this latest round of improvements will help improve advisers’ efficiency when generating reports.

“Our goal is to empower financial advisers with tools that streamline their work and enhance their value to clients. Over the past 12 months, we have released a range of features to our client reporting tools that help achieve this,” Heine said.

“Not only can advice firms tailor their reports quickly, but with our latest release, do it in bulk for many clients at once. This brings scale to the client reporting process allowing advisers to tell powerful investment stories and improve client education.

“These tools are part of our ongoing commitment to innovate in a key area for advice firms, client engagement and education. By simplifying the complexity of data, advisers can save time when delivering insights to their client base.”

This announcement delivers on the promise Heine made in July that more platform updates were in the pipeline as part of its commitment to improving the platform’s capabilities for its advisers and their clients.

“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,” Heine said at the time.

“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.”

Last month’s announcement also saw the release of several major platform updates, including the introduction of automated customised records of advice, improvements to its global market trading capabilities, and an expansion of data and software integrations it supports.