Despite its lofty scale IOOF won’t be building a single proprietary technology system that does everything for advisers, and will instead retain a traditional tech stack built around the Wealth Central advice tool it purchased in September 2020.
Rumours that the group is looking to expand Wealth Central into a full-suite customer relationship tool that would supplant Iress’ Xplan are off the mark, according to head of advice Darren Whereat (pictured).
Trying to “stretch” software to do it all doesn’t work, he explains, for several reasons.
“If you try and stretch a single piece of technology too far, the first thing is the development required to take it market… the timeline is just elongated so you miss opportunities,” Whereat tells