News
AXA Advisors Moves to Web-based NaviPlan Platform to Gain Efficiencies in Wealth Management Market
Winnipeg, MB: April 16, 2003: EISI, developer of NaviPlan financial planning software, today announced that AXA Advisors, LLC, one of the premiere financial services companies in the U.S., is upgrading to NaviPlan’s state-of-the-art Web-based financial planning platform. The national roll-out is taking place throughout 2003.
Following a rigorous, year-long evaluation and selection process, AXA Advisors chose the NaviPlan Enterprise Solution to replace its previous software application. The selection criteria focused on both product and vendor qualities. Product considerations for the new platform included depth and breadth of functionality to support all wealth segments, including high- and ultra-high-net-worth clients, maturity of Web-based technology, and the ability to adapt to a highly customized platform. In evaluating vendors, AXA Advisors reviewed organizations for their experience in large-scale deployments, strength and stability of the company and management, responsiveness to legislative changes and commitment to software upgrades, and in-depth training and support.
Customizing the NaviPlan Enterprise Solution for AXA Advisors’ business and compliance requirements and integrating it with the existing IT infrastructure began in February 2002. AXA Advisors estimated that the duration of the process, based on previous experience, would be 18 months. The customizations were completed nine months ahead of schedule, moving the pilot stage to begin in November 2002.
“We’ve clearly seen NaviPlan’s ability to execute against strategy. This project is well ahead of schedule, within budget, and already we’re looking at ways we might further leverage this technology in new markets,” said Senior Vice President Fred Folco.
As part of the strategy to marry technology with intellectual capital, AXA Advisors is using NaviPlan’s entitlements to automatically present appropriate tools to specific users, based on their expertise and their clients’ needs. Financial professionals at AXA Advisors will use a subset of NaviPlan’s functionality and, for highly sophisticated financial plans, they will collaborate online with the AXA Advisors centralized advanced planning unit. For out-of-office meetings, financial professionals disconnect from the network, taking copies of applications and client files on their laptop. Upon returning to the office, the information is uploaded to the central database when the financial professionals reconnect.
“AXA Advisors is capitalizing on their state-of-the-art central planning unit by equipping it and the financial professionals with the collaborative tools they need to win in the advice market,” said Dr. Mark Evans, President and CEO of EISI. “Behind the scenes, this is a highly-customized and extensive implementation. For users, however, the application is seamlessly integrated with client data and other applications to give them a user-friendly and very efficient financial planning platform.”
“This is a home run for AXA Advisors and its clients,” added Folco. “NaviPlan’s powerful tools and flexibility combined with our financial planning and client servicing expertise will give us a competitive advantage. The pilot proved that our financial professionals would embrace this technology because of the value it provides.”
About NaviPlan financial planning software
Developed by EISI, North America’s leading financial planning software vendor, NaviPlan applications are backed by more than a decade of development. Built upon the most complete calculation engine in the industry, NaviPlan software covers estate planning strategies, incomes, expenses, asset and liabilities, stock options, and federal and state/provincial taxes in fully customizable, professional reports. In addition to the breadth and depth of functionality, EISI's extensive experience in large-scale deployments has made NaviPlan the best solution for more than 40,000 users and many of the largest and most prestigious financial services organizations in North America.
About AXA Advisors
AXA Advisors, LLC is a subsidiary of AXA Financial, Inc., a member of the global AXA Group. Financial services and products available to individuals and small businesses through AXA Advisors and its affiliates include financial, retirement, and estate planning; life insurance; annuities; and mutual funds.
AXA Advisors has financial professionals in communities throughout the United States. AXA Advisors' local presence allows clients to develop special relationships with talented, capable financial professionals in their local communities. Many of these financial professionals have attained one or more coveted professional designations, such as Certified Financial Planner® or Chartered Financial Consultant. Some even have a background or training in the fields of law or accounting.
Contact:
Cindy Bennett
Director, Marketing
NaviPlan Financial Planning Software
(204) 943-3474 ext. 3121
cindy.bennett@eisi.com
