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Class to provide Xplan with data feeds

Class Xplan data feed

Financial advisers using Xplan will be able to view their clients’ SMSF investments after the software provider secured a data feed with Class.

SMSF administration provider Class has announced it has integrated its data feeds with financial planning software Xplan to provide advisers with a single view of their clients’ SMSF and non-SMSF investments.

Class stated the data feeds to Xplan would provide an up-to-date view of all investments held within Class, including unlisted assets, such as direct property, thus removing the need to enter that information manually in either of the two software systems.

The feed would also include a range of different cash transaction types that have been matched by Class to events such as pension payments, contributions, income, actuarial expenses or property expenses to allow advisers and their clients to identify those transactions.

Advisers using Xplan can also choose which information they will include from Class or whether they will draw it directly from another source.

Class stated the data feed to Xplan integrates its Class Super and Class Portfolio products and will suit financial advice and accounting firms, and the integration will save an estimated four hours in the production of each report review and up to eight hours on the production of advice documents per client.

Class chief executive Andrew Russell said: “We know that the provision of automation is a key issue for our current and future customers, as reflected in the recent Investment Trends “SMSF Accountant Report”.

“We aim to remove significant technical complexity and the use of time while solving real customer problems, such as removing manual entry through feed automation.

“Time is our customers’ most valuable resource and we remain focused on helping them save that by providing even more value for money from their Class subscription.”

Earlier this year Class purchased compliance and documentation platform NowInfinity and last month reported the integration of the latter into the Class business had been completed ahead of schedule, expanding the number of services offered and the number of clients using Class products.

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