Tuesday, May 03, 2011
In response to growing client and sector demand, IRESS today announced the launch of ENGAGE.
ENGAGE is a general-purpose client engagement solution containing transactional advice tools providing users, such as financial advisers and superannuation funds, with fast access to limited scope statements of advice (SOAs).
Wholly web-deployed, ENGAGE uses wizard-based tools (keeping data entry to a minimum) and can be accessed via all types of devices. It is specifically designed for use on tablet devices such as iPad. It operates via three modes:
- An integration layer for websites which allows advisers or super funds to expose calculations based on the underlying advice offering
- A client mode which allows authorised clients, such as members of superannuation funds, to self-assess their needs
- An adviser engagement mode which facilitates the advice process for full service or call centre based super fund advisers to provide limited advice and refer clients on to full service advice based on needs.
IRESS Managing Director Andrew Walsh said ENGAGE is about making advice, at all levels, more efficient and relevant.
“For example, the model allows transactional-type clients or super fund members to self-assess their own needs,” he said. “It also aids call centre advisers in the delivery of intra-fund advice. But it is also hugely beneficial to full service advisers because it allows all the work done by the client or by an intra-fund adviser to be re-used further down the track. In other words, the full service adviser is able to leverage the data and recommendations that have already been made.”
The key to this efficiency lies in the integration of ENGAGE with the advice platform XPLAN.
“ENGAGE leverages XPLAN’s underlying calculatory and projection engine used by advisers today,” Mr Walsh said. “This means that if clients or their advisers use ENGAGE, they have consistency all the way through the advice process – from the moment they begin their initial exploration to the generation and implementation of an advice document.”
The integration also means that payment methods, adviser interaction, referrals and advice bookings can be handled natively by XPLAN.
Mr Walsh said ENGAGE has the capacity to facilitate the delivery of advice to more people. “We know that Australians do not have enough retirement savings and we know that part of the problem is access to advice,” he said. “We believe ENGAGE has the potential to improve access to advice by making the process more efficient for both clients and their advisers at every level.”
Key features:
- All advice channels can use the same tools and analysis is saved securely for revisit
- Quick advice generation
- Can be white-labelled: customisable scripting, user interface, advice document
- Supports screen-sharing with adviser on demand
- Integrates to XPLAN diary for available advice session
- Real-time referral to adviser
- Real-time payment support through banking gateways.