Inherit Australia: Iress Open Standard Integration

[melanie.meadwell]

Integration overview

We are pleased to share the news that a new third party integration is now available for Xplan users. 

This is a standard integration which means that it was built by the third party to connect to your Xplan site via the standard integration template.  Iress does not charge for this service and it can be enabled by your own site administrator using the Iress Open setting within your Xplan site.

Integration summary

Inherit Australia enables advisers to facilitate estate planning. Inherit Australia’s legal bot, replicating a lawyer's line of questioning allows advisers to complete the data collection and testamentary wishes before referring clients to a legal panel.

Software type: Digital Engagement

Locale(s):  Australia

Contact details for integrator: team@inheritaustralia.com.au

Website for integrator: https://www.inheritaustralia.com.au

Description provided by the integrator:

Inherit Australia is a bespoke estate planning platform and marketplace that changes the way advisers traditionally manage their clients' estate planning needs. At the heart of the system is the Inherit legal bot that enables advisers to navigate estate planning conversations with their clients without requiring any special knowledge or training and without the risk of giving legal advice . The bot prompts advisers to ask questions about their client's affairs to gather important information relevant to their circumstances. This information is used to produce an estate planning report that identifies issues and gaps in the client's existing estate plan. This is the first phase of the process and is designed to move the client into the second phase, which is to identify their testamentary wishes and to appropriately document those wishes.

At the conclusion of the second phase, the client signs off the information collected, Inherit calculates the appropriate estate planning fee and a lawyer on the Inherit panel is engaged by the adviser to review and finalise documents created by Inherit for the lawyer and to receive legal advice around the issues identified by the legal bot. Inherit Australia’s legal panel of lawyers spans across jurisdictions and skillsets. This means advisers can match the best lawyer or professional for each client’s unique circumstances.

The adviser manages and drives the entire process and charges a fee for their service.

Inherit's Pay As You Go pricing means that there is no start-up cost or ongoing commitment. Advisers can facilitate an estate plan for a client and benefit from an immediate return on investment.

Inherit Australia's systems and process allows advisers to not only identify cross-referral opportunities within their practice but to plan the distribution of their client's wealth on death and be part of that distribution to the next generation, thereby adding value to the adviser's business.

Setup instructions

Integrations are a connecting doorway between two systems and you will need to enable these from both the Iress Xplan and the Third Party integrator side before they can be used.

In Xplan: 

This integration follows the Standard Integration pattern:

• If you manage your own site: You can enable the integration yourself using this guide, then there is then a further step to add a launch button in Xplan. Note that this must be undertaken by your site administrator.   
• If you are part of a network or dealer group: Please refer to your organisation’s support team who will undertake this on your behalf.
• If you outsource your site administration to Iress:  This integration has not yet been enabled. Please contact your Iress Account Manager who will be able to raise the necessary request to progress this on your behalf. Terms and conditions are included in your managed service agreement. For details, see our website under Integrations available via Iress Open (Xplan and Private Wealth).

In your third party integrator software: 

The Third Party has supplied this setup guide and this user guide