Superfund Wholesale is now Intello.
Please find the updated version of this article in the new Intello Help Centre here:
Can Superfund Wholesale data feed into Xplan?
We often get asked whether our SMSF administration reporting and non-SMSF portfolio reporting (via Class) feeds or integrates with Xplans IPS module.
Unfortunately as at the publish date of this article there is not an automated 'platform style' data feed from Class to Xplan IPS.
However there are some useful widgets that can pull Class information into Xplan as well has some reports based on Class data
More information on this functionality is available on the IRESS website here:
Exporting Xplan data to Class
As per the above IRESS article, there is also the functionality to export data from Xplans IPS module and import it into Class.
More information can be found on this fact sheet(PDF): Xplan manual file export to Class
Getting a Class data feed into Xplan
Superfund Wholesale works with a large number of advice businesses who use Xplan. We understand how valuable an automated feed from Class to Xplan would be.
We also believe in providing advisers a better way to look after their SMSF clients and for this reason we want to champion the development of a Class to Xplan data feed.
What has Class done?
Class has already undertaken development work to export data files in a format that matches the Xplan custom manual file import capability. However a manual / import export process is not idea because:
- It is time consuming to export / import between systems and;
- The method doesn't support transaction reversals meaning manual processing would still on occasion be required in Xplan (this has been confirmed by IRESS).
What would a Class to Xplan data feed look like?
Class is powerful when it comes to providing a unified view of client assets, especially investments that typically are not able to data feed such as direct property, term deposits and direct managed funds not held under a wrap or platform account.
We believe the following features are on our wish list to a Class / Xplan data feed:
- Utilise EPI v4.2 data format
- Daily data feed
- 100% automated once configured
- Support transaction reversals
- Efficient and intuitive configuration process on both the Class and Xplan sides
- Class would provide an inception file with history and then incremental daily files with changes
The above features would enable a robust and reliable automated data feed and in our opinion greatly enhance the value of the Xplan IPS module.
What would be the benefit for Xplan users?
Xplan is central to many of the advice businesses we work with. The addition of an automated data feed from Class into Xplan would add huge to advisers and greatly enhance the value of the IPS module.
Specifically we see the following benefits:
- Currently there is a significant overlap when it comes to the portfolio administration of SMSF clients. Many financial planning businesses maintain their portfolio reporting through Xplan, while simultaneously an accountant or administrator is undertaking similar work but for a different purpose via Class.
- Maintaining non-data feed investments including direct property, term deposits and direct managed funds (off platform) can be challenging. When Class is used by a competent administrator or accountant, this problem is solved. This investment information could easily be pulled into IPS which would save significant time for Xplan users.
- A seamless data feed from Class to Xplan would ensure advisers, accountants / administrators and clients are on the same page and looking at the same up to date information!
How can I assist get a Class to Xplan data feed active?
We believe in people power to create positive change in our industry. To show your support for the development of a Class to Xplan data feed please complete the short 'petition' below.
In addition, please feel free to send this article to your colleagues, peers, dealer group, Xplan account contact as well as sharing it through your social media channels - especially LinkedIn.