IRESS Xplan has been named the top-rated financial application and has broken a rating record in a new report by Investment Trends.
According to the December 2015 Planning Software Report, IRESS Xplan was the top rated financial planning application last year, achieving the highest score recorded since the first report was published a decade ago.
"Xplan continued to develop a full range of planning services for dealer groups, from private wealth to robo-advice," Investment Trends technology analyst Ian Webster said.
"Xplan is leading the way for all comprehensive and component planning applications by offering the engine to support a new generation of multi-channel applications."
Xplan was followed by Rubik Coin and AdviserNetgain. The top-rated hybrid planning/platform application was AdviserNetgain and Asgard.
Decimal was named best superannuation scalded advice application.
"The development of Decimal at Mercer and QSuper is a significant milestone for intra-fund advice technology," Mr Webster said.
"Decimal has demonstrated that enterprise grade intra-fund advice functionality should be deployed alongside super administration platforms."
Infocus Platformplus took out the 2015 innovation award for its analytics that use peer benchmarking to promote best practice.
"Using peer benchmarking and reflective practice is an emerging approach to professional development in many other professional service industries," Mr Webster said.
"Platformplus' use of peer comparison process is an innovated approach to ongoing professional planner development."
The report also found that new fintech automated investment portfolio services are influencing functionality development for comprehensive planning applications.
Since FOFA, the focus on client engagement has expanded the range of technology services advisers use to complement their advice delivery applications.
"Both established and new fintech developers are looking to broaden the market for advice services," Mr Webster said.
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