Overview
Managing client fee arrangements requires more than manual spreadsheets and calendar reminders; it demands an automated, compliant foundation backed by robust system logic.
Our native Fixed Term Agreements (FTAs) workspace within Xplan supports Australian practices in seamlessly managing non-ongoing fee structures and annual renewal workflows.
This functionality transitions your practice away from fragmented, manual workarounds and into a structured, single-source-of-truth workflow. This framework is designed to reduce administrative overhead, eliminate duplicate data entry, help ensure critical agreement dates are not missed and help mitigate compliance risk.
Key features
With the Fixed Term Agreements functionality in Xplan, you’ll be able to:
- Create agreements with validated dates: Easily set agreement start and end dates with built-in logic that ensures terms never exceed 12 months.
- Record fee information: Link fees directly to existing Xplan accounts, such as Super, Pensions, or Assets, or enter custom fee sources manually.
- Record included services: Record included advice services using a flexible free-text field with template options, allowing service details to pull directly into agreement documents.
- Track agreement status automatically: Agreement statuses (such as Current or Expired) update automatically against system dates, taking away manual tracking and reducing compliance risk of missed expiry dates.
- Prepare new agreements more efficiently: Prepare upcoming agreements while current ones remain active, quickly copying over and adjusting fee and services offered if required, reducing the need to re-enter information.
- Manage new agreement transitions: When a new agreement start date arrives, the system automatically makes it current and expires the old one with zero manual intervention required.
- Maintain an agreement history: Keep a permanent, easy-to-access historical record of all past agreements for full audit visibility.
- Reporting & integration: Pull agreement details straight into Xmerge, Xport, Advanced Search, and APIs for effortless reporting and bulk updates.
- Maintain data integrity and consistency: Keep agreement dates, services, status and history together in Xplan instead of maintaining multiple spreadsheets or calendars.
What you can do to get ready
In preparation for implementing the Fixed Term Agreements workflow you will need to:
- Prepare your data: Review and organise your existing client agreement data so it is ready for import into Xplan. A guide with instructions for preparing your data and completing bulk imports is available in the Fixed Term Agreement: Set Up Guide below.
- Map your internal workflows: Review your practice’s current agreement lifecycle - from signing through to expiry - so your team is prepared to transition to the new Xplan workflow.
- Review document templates: Identify any Fixed Term Agreement templates that currently rely on existing custom fields or manual data entry. An Xmerge guide covering the new fields will be released soon, helping your practice prepare for any required template updates.
When will this be available?
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Sharing your feedback
Your feedback is an important part of this journey. If you have questions or would like to share your experience, you can:
- Speak directly with your Relationship Manager
- Contact us via Iress Connect.
