![\"\"](\"https:\/\/riskinfo.com.au\/news\/files\/2013\/11\/Julian-Plummer-2.jpg\")
<\/a>Having recently launched its new AdviceOS financial planning software, Midwinter Financial Services<\/a> has now joined with accounting software provider Xero<\/a> to deliver an additional cloud-based reporting solution for advisers and their clients.<\/p>\n Midwinter\u2019s AdviceOS has been integrated with Xero\u2019s Cashbook, which enables advisers to oversee their clients\u2019 cashflow anywhere, any time. Cashbook links directly to the client\u2019s bank accounts, and allocates transactions to a list of categories, enabling the client and adviser to see exactly how and where money is being spent.<\/p>\n Julian Plummer<\/strong>, Managing Director at Midwinter, said the ability to track a client\u2019s spending habits gives advisers the opportunity to enhance the quality of their advice.<\/p>\n \u201cWhat attracted us to Xero\u2019s Cashbook is that it gives advisers a true indication of a client\u2019s cash flow by aggregating client transactions from linked bank accounts.<\/p>\n \u201cIt gives the adviser an integrated and tangible budgeting tool which they can leverage to become more involved in the advice relationship. Ultimately it\u2019s about helping the adviser become a \u2018financial coach\u2019. They can identify opportunities to reign in over-spending, or invest surplus money more effectively.\u201d<\/p>\n He said the solution also had practical applications for risk advisers:<\/p>\n \u201cThe Cashbook tool can help advisers to determine the most appropriate level of cover for their clients, because the calculation is based on detailed income and expenditure information. At review time, the adviser can track whether the level of cover remains appropriate, based on the client\u2019s annual cashflow.\u201d<\/p>\n Mr Plummer said the partnership was a natural fit, because Midwinter and Xero both utilise cloud technology, meaning advisers and clients can access the same, real-time data from a variety of devices.<\/p>\n Xero Managing Director, Chris Ridd, said the software firm was excited to be entering the financial advice channel. \u201cThis gives us the opportunity to introduce and expand Xero Cashbook alongside a leading financial services organisation, and one that aligns to our pure cloud model. Cashbook is a powerful tool that lets professional advisors amplify their advice,\u201d Mr Ridd said.<\/p>\n The integration between the two programs will be fully-functional in January 2014. Midwinter will showcase the new technology at a series of roadshow events in February next year.<\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" A new software partnership which aims to help advisers position themselves as \u2018financial coaches\u2019 has been announced by Midwinter.<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-23820","post","type-post","status-publish","format-standard","category-technology"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/23820","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=23820"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/23820\/revisions"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=23820"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=23820"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=23820"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}