Sydney, 30 August 2023 – Midwinter Financial Services (Midwinter) has today announced it has partnered with Scale Up Paraplanning, TNW Solutions, and Rocket Services to create an integrated paraplanning solution for advisers.

Midwinter has launched the Paraplanning Partners Program following a successful pilot phase. This program connects Midwinter’s clients with a network of highly skilled paraplanning professionals trained in the Midwinter software, enabling seamless collaboration and efficient delivery of paraplanning and administrative services.

A key feature of the program is the unique paraplanning license, providing a secure and streamlined way for paraplanners to access specified client records through the Midwinter financial advice software. This facilitates the seamless delivery of external paraplanning and administrative services, with advice businesses able to tap into this expertise and additional resource pool when required.

Stacey Cowan, Head of Advice, Midwinter says, “Following a successful pilot, Midwinter is thrilled to be partnering with leading paraplanning providers to create a holistic offer to advisers, ensuring they can operate efficiently and effectively in delivering expert advice to their clients. With the support of our trusted paraplanners, advice businesses can confidently embrace Midwinter and focus on what matters most – their clients.”

Alex Gassner, General Manager, Scale Up Paraplanning says, “We are excited to be one of the inaugural members of Midwinter’s Paraplanning Partners Program. This represents a pivotal opportunity for Scale Up Paraplanning to enhance our partnership, deepen industry ties, and strengthen the quality of our service offering. By focusing on our strengths and collaborating to maximise the provision of quality advice, we’re able to better serve our clients and help them reach their goal of scaling advice operations. As we continue to progress on this journey, we are confident that this partnership will shape a promising and transformative future for our business, setting a new standard of excellence in the financial planning sector.”

Esha Khosla, Director, TNW Solutions says, “We are very excited to be a part of the Midwinter’s paraplanning program. Together with Midwinter, we are aspiring to challenge the status quo and add value in the financial planning space. We have a common objective to increase our footprint in the financial services industry and are looking forward to this partnership which will make way for opportunities to service more customers by providing feasible, cost-effective and efficient solutions for advisers and their practices.”

Damien Winberg, Director, Rocket Services says, “We are thrilled to be working with Midwinter as a preferred support partner. Rocket Services has long supported Midwinter’s intuitive software, which coupled with their commitment to ongoing training and customer satisfaction, has been instrumental in our success. This collaboration allows us to bring our expertise in Paraplanning and Admin to a broader audience, offering financial planning practices a seamless back office solution and Advisers more time to focus on delivering outstanding advice to their clients.”

TNW Solutions is an independent Australian-owned and operated business, providing efficient and high-quality paraplanning services nationwide. Scale Up Paraplanning is an Australian-based back-office service provider that delivers outsourced paraplanning, admin/research and practice consulting services. Rocket Services creates, sources and connects expertise offshore to deliver seamless support to clients.

The Paraplanning Partners Program marks another milestone in Midwinter’s commitment to delivering innovative solutions that support the financial planning industry. If you’re a paraplanning business and wish to be considered for future participation in the program, please contact Midwinter to register your interest here.

All Midwinter customers can now access external paraplanning support through the Midwinter Paraplanning Partners Program. For more information, please email sales@midwinter.com.au.

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Media Contact 

For media enquiries please contact: 

Marcha van der Heuvel
Hill+Knowlton Strategies
Marcha.vandenHeuvel@hkstrategies.com

About Midwinter Financial Services Pty Ltd 

Midwinter Financial Services is an innovative financial advice software company based in Sydney, Australia. Founded in 2006, Midwinter was acquired in August 2019 by Bravura Solutions, a leading provider of software solutions for the wealth management, life insurance, and funds administration industries. 

Midwinter’s cloud-based SaaS solutions improve efficiency, scalability, compliance and client engagement for hundreds of Australia’s leading advice practices, dealer groups, wealth management and superannuation firms.  

Our solutions meet the evolving needs of the advice industry, its consumers and the professionals who provide financial advice. 

To learn more, visit www.midwinter.com.au.

The post Midwinter launches Paraplanning Partners Program appeared first on Midwinter.

Sydney, 8 March 2023 – Midwinter Financial Services Pty Ltd (Midwinter) has today announced a partnership with CQUniversity Australia to provide financial planning software to its students undertaking financial planning units.

As part of the agreement, CQUniversity’s financial planning students will be able to access Midwinter’s financial advice software, as well as training to support the students using the technology.

The digital advice software will be available to students studying a Bachelor of Business, a Bachelor of Accounting, and a Bachelor of Property Studies, as well as other non-business courses with financial planning units.

Stacey Cowan, Head of Sales at Midwinter says, “With adviser numbers continuing to fall across the industry, Midwinter is excited to support the development of future qualified financial advisers by providing access to advice technology during their education.”

“Midwinter’s modules not only allow students to practice and learn new financial planning skills, but also to familiarise themselves with real-life technology as they prepare to enter the workforce and become financial advice professionals.”

Dr. Angelique N. McInnes, Lecturer, College of Business and Law at CQUniversity, says “CQUniversity is thrilled about the opportunity this partnership offers to our students. The financial services industry is changing fast – and it is now more critical than ever for current and future professionals to understand how technology can help stay compliant and more efficient,” Dr. McInnes commented.

Midwinter’s financial advice modules will be available to all CQUniversity students undertaking financial planning units from Term 1 2023 onwards.  

For more information on Midwinter’s financial planning software or to request a demo, please visit https://www.midwinter.com.au/service/financial-advice-software.

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Media Contact

For media enquiries please contact:

Deborah Dalziel
Marketing Manager, Midwinter Financial Services
ddalziel@midwinter.com.au

Isis Symes
Communications Coordinator, CQUniversity
i.symes@cqu.edu.au

About Midwinter Financial Services Pty Ltd

Midwinter Financial Services is an innovative financial advice software company based in Sydney, Australia. Founded in 2006, Midwinter was acquired in August 2019 by Bravura Solutions, a leading provider of software solutions for the wealth management, life insurance, and funds administration industries.

Midwinter’s cloud-based SaaS solutions improve efficiency, scalability, compliance and client engagement for hundreds of Australia’s leading advice practices, dealer groups, wealth management and superannuation firms.

Our solutions meet the evolving needs of the advice industry, its consumers and the professionals who provide financial advice.

To learn more, visit www.midwinter.com.au.

About CQUniversity

Originally founded in Rockhampton in 1967, CQUniversity is regarded as one of Australia’s most inclusive universities and is a pioneer in the delivery of distance and online education.

As a benchmark leader for how universities should engage and collaborate with communities and industry, CQUniversity has a strong vision to strengthen the regions and communities it serves and after more than half a century working with stakeholders in regional Australia, the University is now a renowned research institution.

It is also recognised by Social Traders as Australia’s only certified social enterprise university.

Find out more by visiting www.cqu.edu.au

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SYDNEY, NSW: Midwinter, a Bravura Solutions Limited company, has today announced an integration with Inherit Australia, an estate planning platform connecting financial planners and lawyers.

Advisers using Midwinter financial advice software can now seamlessly pull their client data into Inherit Australia.

The Inherit software uses a sophisticated legal bot that replicates the line of questioning of an experienced estate planning lawyer to help advisers navigate estate planning conversations with their clients. This allows advisers to complete the data collection and testamentary wishes process without providing legal advice. The process does not require any prior estate planning knowledge or experience.

The one-way integration from Midwinter to Inherit eliminates the need for double data-handling while ensuring the integrity of client data stored in the Midwinter client profile.

“Advisers already have a trusted relationship with their clients; when it comes to estate planning, it makes sense for them to lead these conversations,” said Andrew Zietara, Head of Product at Midwinter. “This integration builds on our partner ecosystem, providing advisers with increased functionality and efficiency.”

Chris Hill, Legal Co-Founder at Inherit Australia said, “it’s all about deepening the adviser-client relationship; this integration puts the adviser in the box seat and cements them as the lead adviser of their clients and their families in the accumulation, protection and distribution of wealth on death.”

Registration to Inherit Australia is free on a pay-as-you-go plan and provides opportunity for advisers to grow their service offering and create a new income stream. Midwinter’s API integration requires authorisation by account holders, followed by a straightforward web authentication process to connect accounts.

For more details on Inherit Australia’s estate planning platform, visit www.inheritaustralia.com.au. For information about how to set up a Midwinter API with Inherit Australia, visit https://help.midwinter.com.au/portal/en/kb/articles/inherit-australia.

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For media enquiries please contact:

Deborah Dalziel
Marketing Manager, Midwinter Financial Services
ddalziel@midwinter.com.au

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Midwinter, a Bravura Solutions Limited company, has today announced the extension of its advice software with the launch of MultiGoal, a strategic goal optimisation engine for financial advisers.

Advisers using Midwinter’s financial advice software can now access the interactive and visually engaging tool to assist their clients in achieving their financial goals, such as paying off their mortgage or saving for a holiday, based on their situation and goal priority.

With MultiGoal, advisers can provide goals-based advice in real-time, including reviewing and prioritising a client’s goals and generating a quick statement of advice. It can be used in front of clients as part of an educational and consultative discussion, showing the value of advice and strengthening advisers’ client pipelines.  

The solution uses client financial information to quickly provide strategic direction, with multiple goals, scenarios and trade-offs evaluated in one meeting.

Andrew Zietara, Head of Product at Midwinter says, “At Midwinter we are continuously innovating our software so our clients can provide better financial outcomes. We are pleased to roll out a solution that helps the advice profession showcase the value of advice while reducing upfront costs to deliver this advice.”

“MultiGoal’s easy-to-use interface stands out for its simplicity and its ability to be used in front of clients to show the impact of different goal priorities, allowing for more relevant conversations during client meetings and reduced time and effort to produce a statement of advice.”

MultiGoal is available now following a successful beta trial with Midwinter customers.

For more information on MultiGoal or to request a demo, visit www.midwinter.com.au/multigoal.

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Media Contact

For media enquiries please contact:

Deborah Dalziel
Marketing Manager, Midwinter Financial Services
ddalziel@midwinter.com.au

About Midwinter Financial Services Pty Ltd

Midwinter Financial Services Pty Ltd (Midwinter) is an innovative provider of financial advice software. Based in Sydney, Australia, Midwinter was founded in 2006 and acquired by Bravura Solutions Limited in August 2019.

Midwinter’s cloud-based software solutions improve efficiency, scalability, compliance, and client engagement for hundreds of Australia’s leading advice practices, dealer groups, wealth management and superannuation firms.

Our solutions meet the evolving needs of the advice industry, its consumers, and the professionals who provide financial advice.

About Bravura Solutions Limited

Bravura Solutions Limited is a leading provider of software solutions for the wealth management, life insurance, and funds administration industries. Our solutions are underpinned by functionally rich technology that enables modernisation, consolidation, and simplification. Our software solutions enable our clients to increase speed to market, provide a seamless digital experience and address ongoing changes in financial services regulation. Backed by over 30 years of experience, our on-premise, managed, hosted and cloud solutions are used by many of the world’s leading financial institutions, who entrust trillions of dollars in assets held in accounts to our systems. We support our clients with a team of more than1,500 people in 17offices across Australia, New Zealand, United Kingdom, Europe, Africa, and Asia.

To learn more, visit www.bravurasolutions.com.

The post Midwinter Launches Goal Optimisation Engine for Advisers appeared first on Midwinter.

Libby Roy, currently non-executive director of Bravura, has over 20 years leading global financial services and technology companies and joins from Optus Business in Australia where she was their Managing Director. She has also held several senior executive positions with AMP and AXA, was Managing Director of PayPal in ANZ, and held senior global roles with American Express. Based in Australia, Libby will spend a large amount of time working in the UK and other regions that Bravura serves.

Click here to read the full media release on the Bravura website.

The post Bravura restructures leadership team and Board as it enters a new phase of growth appeared first on Midwinter.

Midwinter Financial Services Pty Ltd (Midwinter) and Count Financial Limited (Count) today announced a partnership that enables Count’s adviser network to leverage Midwinter’s leading financial advice software.

The partnership provides greater flexibility and competitive IT ownership costs for Count practices through a choice of software provider as well as tailored settings and advice templates.

Following a 4-month pilot program during which some of the licensee’s flagship practices trialled Midwinter’s software with overwhelmingly positive feedback, Count selected Midwinter due to its strong client engagement tools and market-leading modelling capabilities.

As a growing licensee, Count is committed to supporting innovation that will make providing high quality, compliant advice easy for its network.

Reg Gabila, Head of Licensee Systems at Count Financial, said the addition of Midwinter would provide a quality advice software solution to its advisers.

“As a licensee, we are committed to providing our advisers with access to the leading providers in the advice software space. We are delighted to be partnering with Midwinter and giving our community more options in how they deliver quality financial advice to clients.”

Steve Davison, Chief Commercial Officer at Midwinter is delighted to have Count as their newest partner. “We are thrilled that Count has selected Midwinter to provide advice software choice for their network. As a trusted partner, Midwinter is committed to working with Count to support the technology needs of their business as well as the needs of Count advisers.”

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Midwinter Financial Services Pty Ltd (Midwinter) today announced that AIA Australia has selected its advice software for their Financial Wellbeing business.

AIA Financial Wellbeing is a new advice business offering affordable, reliable, and straightforward solutions for life and health insurance, superannuation, and wealth advice.

Midwinter’s financial advice software will underpin all aspects of advice generation, enable efficiencies, and support compliance at AIA Financial Wellbeing.

AIA selected Midwinter because it offered comprehensive advice software that required minimal customisation to meet their requirements. AIA Financial Wellbeing were operational on the software following an implementation of just over four months.

CEO of AIA Financial Wellbeing, Pina Sciarrone, said “Midwinter has been easy to work with and their comprehensive and configurable software has helped us quickly stand-up our new advice business. We’re excited about the partnership and Midwinter’s ability to support our goal of enhancing the financial wellbeing of Australians.”

Chief Commercial Officer of Midwinter, Steve Davison, said “We’re proud to have been selected as the financial advice software partner for AIA Financial Wellbeing. This is a testament to the completeness of our advice software and vision, and our team’s ability to implement the software quickly and effectively.”

– ENDS –

Media Contact

For media enquiries please contact:

Deborah Dalziel
Marketing Manager, Midwinter Financial Services
ddalziel@midwinter.com.au

About Midwinter Financial Services Pty Ltd

Midwinter Financial Services is an innovative financial advice software company based in Sydney, Australia. Founded in 2006, Midwinter was acquired in August 2019 by Bravura Solutions, a leading provider of software solutions for the wealth management, life insurance, and funds administration industries.

Midwinter’s cloud-based SaaS solutions improve efficiency, scalability, compliance and client engagement for hundreds of Australia’s leading advice practices, dealer groups, wealth management and superannuation firms.

Our solutions meet the evolving needs of the advice industry, its consumers and the professionals who provide financial advice.

The post AIA selects Midwinter advice software for new Financial Wellbeing business appeared first on Midwinter.

Average profit declined almost 15 per cent from 28.2 per cent to 24.0 per cent year-on-year as practices increased business investment and overhauled fee structures to adapt, according to the Future Ready IX report produced by Business Health in partnership with Midwinter Financial Services. 

This report is based on in-depth business and financial data obtained from more than 200 advice practices through the Business Health HealthCheck business assessment tool. 

Midwinter Chief Commercial Officer Steve Davison said the result is a testament to the resilience of the financial planning sector, which also overcame the challenge of pandemic lockdowns. 

“Good advice businesses, and in particular great advice businesses, have navigated their way through substantial regulatory change and the COVID-19 pandemic, which caused significant market turmoil.  

“They are successfully serving their clients by setting up their businesses with improved processes and technology that will allow them to become more efficient and grow profitability in the future.” 

The advice sector has adapted to changes including the removal of grandfathered remuneration; product and marketing subsidies; new life insurance commission caps; and new educational requirements. 

Business Health owner Rod Bertino said 74% of advice practices still expected to increase business revenue and 64% expected to increase profitability over the next 12 months. 

“The good business owners have been willing to invest in what was needed to remain successful and sustainable. Their operational expenses are up given higher overall licensee costs, including professional indemnity insurance, while they’ve employed more staff to support their client-facing activities.” 

Accessibility of advice remains an issue  

Advisers are increasing their focus on top-tier clients that are willing to pay full-service advice fees. 

The average number of clients per adviser declined slightly from 241 in 2019 to 228 last year, however the number of ‘A’ class clients increased from 79 to 105. 

“This research indicates top tier clients are receiving advice through financial advisers, and our experience shows clients with simple needs increasingly have access to financial advice through their super fund,” Davison said.  

“However, many Australians do not fit in either of these segments: this is a potential opportunity for advice businesses who can find ways to serve these mid-market clients profitably by establishing the right business models and technology.”  

Advice businesses are pivoting to stay ahead  

Advisers are also offering a greater array of services to make up for cuts to traditional income sources. The report found that more than half (55 per cent) of advice practice clients are aged 60-plus and almost half (48 per cent) are retired or no longer working. 

“This aging client base means more practices are offering services they weren’t three or four years ago such as aged care and estate planning,” Bertino said. 

The pandemic also prompted a shift away from the office, with just 37 per cent of businesses conducting almost all client appointments in their own offices compared to 55 per cent in 2020. This move to virtual meetings could in fact help advisers deliver a safer and more enjoyable experience their client base.  

The Business Health Future Ready IX report, which is sponsored by advice technology business Midwinter Financial Services, combines both qualitative and quantitative measures to reveal how advice practices are changing. 

Click here to download the report now.

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Media Contact 

For media enquiries please contact: 
Deborah Dalziel 
Marketing Manager, Midwinter Financial Services 
ddalziel@midwinter.com.au

The post Research: Financial planners maintain revenue but profits squeezed in 2021 appeared first on Midwinter.

Midwinter Financial Services Pty Ltd (Midwinter) has today announced the appointment of Stacey Cowan as its new Head of Advice Sales. 

Cowan joins Midwinter from investment management firm Challenger Limited where she held positions as Account Manager, Business Development Manager, and most recently State Manager for NSW and ACT. Throughout her time in these roles, she worked with licensees and advisers, gaining in-depth knowledge of their needs and the advice industry. Prior to joining Challenger Limited, she worked for BT Financial Group. 

“There has been a lot of change in the advice industry,” said Cowan. 

“This has created challenges for advisers and licensees, but also makes it an exciting time to be working in advice technology. Software can add substantial value to an advice business and is something that becomes an integral part of its processes, therefore it is crucial practitioners choose the right technology partner.”   

“I have watched as Midwinter has reinvented itself through significant development to its product over the last couple of years, and am excited to join the organisation’s growing and dynamic team.” 

Steve Davison, Chief Commercial Officer at Midwinter welcomes the appointment. 

“Stacey brings a wealth of experience and energy. Her enthusiasm and knowledge of the advice industry make her a huge asset to the Midwinter team and our clients,” said Davison. 

Cowan started her role as Head of Advice Sales at Midwinter on Wednesday 5 January 2022. 

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Media Contact 

For media enquiries please contact: 
Deborah Dalziel 
Marketing Manager, Midwinter Financial Services 
ddalziel@midwinter.com.au 

The post Stacey Cowan joins Midwinter as Head of Advice Sales appeared first on Midwinter.

Midwinter Financial Services Pty Ltd (Midwinter) has today announced the appointment of Fraser Hamilton as its new Chief Technology Officer. 

Hamilton joins Midwinter from start-up life insurer Integrity Life where, as Head of Development, he was focused on creating a technology ecosystem that would make life insurance more accessible. Prior to this, Hamilton held solution architecture roles in AMP and Westfarmers Insurance.  

“Technology, when designed and implemented right, can be an important differentiator for an advice business,” Hamilton said. 

“I am excited to join the Midwinter team to build on the great work they have already done and help take our advice solutions to the next level. Technology advances way quicker than the financial services industry can; my role will be to look for opportunities to harness new technologies in a way that helps advisers better engage their clients and reduces their cost to serve, helping them achieve the outcomes they want in their business.” 

Steve Davison, Chief Commercial Officer at Midwinter is pleased to have Hamilton on the team. 

“Fraser brings a wealth of technology knowledge and experience to Midwinter,” said Davison.  

“This extensive experience, combined with his innovative thinking, will help Midwinter stay at the forefront of advice technology, so we can help our customers harness the power of technology in their business.” 

This appointment will allow one of Midwinter’s original Founders, Andrew McClelland, to step back from day to day activities and free up his time to focus on strategic initiatives. 

– ENDS – 

Media Contact 

For media enquiries please contact: 
Deborah Dalziel 
Marketing Manager, Midwinter Financial Services 
ddalziel@midwinter.com.au 

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