Netwealth unveils ‘major updates’ to adviser platform

Wealthtech developer Netwealth has delivered a slew of efficiency-boosting updates to its platform, it says, including a “re-architected” user experience, automated customised ROAs, and support for T+1 settlements.

Among the features, which Netwealth says have been introduced over the last 12 months, include a revised desktop interface and simplified top menu, promising for users “a more cohesive and accessible experience”.

Netwealth has also expanded the platform’s mobile digital capabilities, with a move “towards frictionless client approvals”. Clients, Netwealth boasts, can now quickly approve adviser-initiated instructions via the Netwealth mobile app.

As well, the new platform offers enhanced client reporting, with “time-saving enhancements” including pre-configurable report settings, the ability to create custom report templates (or packs), and the ability to generate multiple reports for multiple accounts simultaneously.

The platform now also supports T+1 international trading, with straight-through processing and execution of international equities on 16 exchanges that support T+1 settlements.

This also includes live trading and limit orders, significantly reducing friction in the trading process.

On compliance, users will also be able to create automated customised Records of Advice (RoA). Users can input specific pre-defined text (e.g. a rebalance reason) and customise the disclaimer using a text editor.

“This can reduce friction for the client and speeds up response and trading times.”

Finally, Netwealth notes that its “open architecture” platform now supports more than 20 data and software integrations, providing, it says, daily data feeds of Netwealth client data to third-party software.

“These latest updates demonstrate our ongoing efforts to make advisers’ work more efficient and impactful,” said Matt Heine, chief executive and managing director of Netwealth Investments.

“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.”