Iress has revealed that Rathbones Group has gone live on its Xplan advisory platform to support Rathbones' existing financial planning business.

With Rathbones' impending merging with Investec Wealth & Investment, Xplan will be the preferred financial planning platform, boosting the company's digital capabilities and facilitating better client service and efficient operation.

Rathbones chose Iress to be part of its network of service and technology partners due to the modularity of Iress' solution and its dedication to integrating and collaborating with systems from other technology suppliers.

Iress’s managing director, UK Wealth, Alex Hore, stated: “We are thrilled to be working with an organisation such as Rathbones, which is known for its pedigree and high standards. The market knows Xplan as an all-in-one solution, but many perhaps don’t know about our flexibility. This project highlights how we can slot seamlessly into a complex infrastructure alongside other best-of-breed providers and work collaboratively to ensure the client has the right technology to maximise efficiency and grow. We’re looking forward to a long and successful relationship in supporting Rathbones.”

Rathbones’ chief operating officer Andy Brodie added: “The delivery of Xplan alongside our other digital solutions is a key step forward in enhancing the experience of colleagues and clients across the Group. The flexibility shown by Iress to work with our other providers and deliver best-in-class financial planning solutions supports our overall ambition to enhance how we manage client relationships and deliver superior client service.”

In an exclusive interview with Private Banker International, Hore provides additional information regarding the partnership.

PBI: What are the primary objectives of Iress’s partnership with Rathbones?

AH: To provide one part of the Rathbones tech-stack, which will in turn help Rathbones realise their strategy of improved operational efficiency and improved client service.

PBI: How long is the agreement intended to last?

AH: It’s a multi year deal. For confidentiality reasons, we don’t want to disclose the term but look forward to a long and successful relationship supporting Rathbones.

PBI: What were the biggest challenges faced during the implementation of Xplan for Rathbones?

AH: From an Iress point of view, we’re fortunate to have a strong and trusted relationship with the team at Rathbones and it has been a very successful process.

PBI: How does Iress plan to handle data migration between Rathbones and Investec systems?

AH: Iress has a tried and tested process for these types of migration, and have carried out over 250 migrations already in 2024.   We will of course be working closely with Rathbones to ensure that the migration runs as smoothly as possible, with test runs to give them the comfort they need

PBI: How does this partnership align with the strategic goals of both organisations?

AH: From an Iress point of view, very strong alignment. We want to demonstrate our flexibility, ability to slot into a complex infrastructure, and work collaboratively to help our clients maximise efficiency and grow.

"Rathbones launches on Iress’ Xplan" was originally created and published by Private Banker International, a GlobalData owned brand.

The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.