Navigator, Australia’s most awarded financial planning software and investment portfolio services provider, has unveiled the first component of a ground breaking three year, $40 million rebuild of its technology platform.
Navigator, Australia's most awarded financial planning software and investment portfolio services provider, has unveiled the first component of a ground breaking three year, $40 million rebuild of its technology platform.
"This is the first and only fully integrated financial planning software and investment administration system built for the 21st century. A system which is as much about future capabilities, as it is about servicing the adviser needs of today," says Navigator Managing Director, Marc Mengler.
Mr. Mengler believes the new financial planning software, Navigator planIT, and the Navigator Smart System, which underpins it, will revolutionise the way advisers plan and manage their clients' investments.
"Navigator planIT provides greater functionality and customisation as well as more in-depth analysis in areas such as social security, taxation and superannuation," says Mr. Mengler.
Navigator planIT is just the first stage of the company's systems revolution. The investment portfolio and back office components will be released over the coming three months.
"This system can electronically drive nearly every aspect of a client's plan and portfolio management, right down to the interface in Navigator's back office" says Mr. Mengler.
"For the first time, advisers will have real control. They will be able to instantaneously implement, monitor or analyse plans with the touch of a button, 24 hours a day.
We believe our new systems and the "real time" interface between the advisers system and our own could reduce the adviser's workload by up to 30%, and will dramatically reduce duplication of effort throughout the financial planning process."
Mr. Mengler says that until now, all of the industry, including Navigator, had been working with evolutionary rather than revolutionary systems, with fast approaching use-by dates.
Navigator's $40 million investment sets new benchmark in financial planning systems
"Three years ago, Navigator realised we needed a total systems rebuild. In consultation with leading E-Business experts and financial advisors we've spent $40 million creating an open architecture system with full integration. This system is the only one which can effectively deal with the service and technology developments this market will require over the next decade," says Mr. Mengler.
Australia's Navigator is at the cutting edge of technological innovation within the global CGNU group.
Navigator's software development is keenly supported by the Group's head office in London and is seen as an investment that will be transferred to many overseas markets where CGNU operates.
"Navigator is strongly positioned as the group's "development laboratory" for financial planning and investment administration services. CGNU is currently working with the Australian team to adapt the new Navigator technology for the South-East Asian market. In the longer term it is also looking at expanding the model to Europe," says Mr. Mengler.
The company is currently focusing on delivering a smooth transition to Navigator planIT for its existing Australian customers, who include both large and small dealer groups.
"A team of thirty Navigator staff will be working around the clock with our clients, over the next three and a half months to successfully roll out this software," says Mr. Mengler.
| For further information contact: | ||
| Katrina Byers | Tel | 03 9646 4674 |
| Mobile | 0418 550 868 | |