Old Mutual unveils XPLAN for customers and advisers

Innovation can have a major rippling effect on all major sectors, including finance, often resulting in even more technological innovation to occur.


In an effort to continually improve customer experience and enhance value for advisers, Old Mutual Personal Finance has rolled out integrated financial planning software, XPLAN, in South Africa. XPLAN from IRESS – a powerful, integrated financial planning solution for wealth management and financial planning professionals – is now available to approximately 4000 Old Mutual advisers.

“XPLAN is a future-fit, mobile-enabled solution that gives financial advisers easy access to customer information, wherever they are and from any device,” said Lizl Budhram, Head of Advice at Old Mutual Personal Finance.

“It will enable Old Mutual sales managers to better coach, support and mentor their network of financial advisers. It will also help our advisers to deliver efficient, responsive and exceptional customer service, effecting better customer management and delivering high-quality advice. Ultimately it will enhance customers’ relationships with their advisers, improve their experience and maximise business opportunities.”

Read more: Hywel George, director of investments at Old Mutual Investment Group, reviews 2017

Old Mutual Personal Finance’s investment in the platform and a comprehensive change management programme helped ensure a smooth transition to XPLAN from Spotlight (a desktop solution from IRESS), which has been used by Old Mutual advisers for the past 15 years.

The large-scale roll-out of the solution to Old Mutual’s advisers was completed in October 2017. It involved migrating thousands of advisers and 14 million records from advisers’ desktops into a centrally hosted, secure database. The migration included integration with Old Mutual’s quoting, binding and new business applications, and also offered training and support to the company’s sales teams.

Karl Beaton, GM at IRESS South Africa said,”The XPLAN solution will help Old Mutual and its advisers to drive efficiency across their businesses as well as deliver greater value to customers by leveraging engaging advice tools and secure online access. This will position Old Mutual for growth in a fiercely competitive market where financial intermediaries must work harder than ever to prove their value to their customers. It will also enable Old Mutual to consolidate its status as the partner of choice for its extensive network of tied advisers.”

XPLAN is a user-friendly, intuitive platform covering the major aspects of running a successful financial advice and wealth management practice by integrating:

  • Customer information and relationship management
  • Customer engagement and experience
  • Customer portfolio management
  • Advice development and modelling
  • Advice recommendations and documents
  • Advice execution and lodgement
  • Compliance and risk management
  • Practice management, and
  • Research