Investment Trends' 2014 Financial Planning Software Benchmark Report also named Asgard's AdviserNETgain among the top three.

AdviserNETgain was rated the top hybrid planning/platform application, while Rubik's Provisio was rated best superannuation scaled advice application.

“IRESS has continued to develop XPLAN into a world-class financial planning application. XPLAN has achieved the highest score for any financial planning application in the 10 years of the [report],” a statement from Investment Trends said.

“Provisio has been the leading developer of intra-fund advice applications for many years and is now part of a growing category of applications offering different approaches to scaled advice delivery,” Investment Trends analyst Ian Webster said.

“Rubik Proviso was surveyed as the best superannuation scaled application ahead of Decimal and XPLAN Engage,” he added.

Investment Trends also said licensees have made significant investments in the configuration of their planning applications and development to implement measures to ensure FOFA compliance.

“The use of workflow-based compliance benchmarking requires advisers to use much more of their applications than just produce SOA documents,” Mr Webster said.

“Aligning compliance with increased practice efficiency should deliver a better business and more consistent client outcomes."

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