MyProsperity

myprosperity is a software company that has created an online solution for accountants and advisers.

Founded in 2011, myprosperity is built on extensive integrations with data feed providers to be the one place where a client can come together with their adviser to get control of their entire financial world.

The company is now the leading private wealth platform in Australia, with over 13,600 client subscribers and 300+ advisor partners, tracking more than $17.5B in Assets and $3B in liabilities.

In 2017, myprosperity was a finalist in the Australian Fintech Business Awards in the category of Software Innovator of the Year.

Coming Soon: Auto form fill including fact find, loan applications. Basically any form an adviser needs to complete with integrated digital signatures. Machine learning to identify advice opportunities to increase revenue and client engagement.

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End User Advisers
Advice Process Steps Scope
Goals
Assessment
SOA
Implementation
Review
Benefits Process efficiency
Engagement Uplift
Time saving
Cost Reductions
Compliance
Automated lead generation
Cost per user per annum $2000-$2999
Time saving per client 3 hours per client
Cost saving per client $501-$1000
Integration Open API available in Sept 2017 and then allowing integration with all financial planning tools
Website embedding Yes
White labelled Yes
System prerequisite Requires internet access
Single sign on Not as yet
Data storage 100% cloud based hosted on Amazon Web Services infrastructure within AWS primary data centres in Australia
Privacy standards Midwinter relies on information provided by AWS in the “Using AWS in the Context of Australian Privacy Considerations” document. This document provides information how AWS services operate in the context of key privacy considerations and the Australian Privacy Act 1988, specially how geographic locations where customers can choose to store content and other relevant considerations.
Limits on use No user or client restrictions
Disaster recovery and business continuity plans Yes
AFSL approval TFS, GPS Wealth, myplanner plus numerous boutique afsl holders