Buyer's guide
Choose software around the work your practice does
Use these questions in vendor demos to compare the details that matter to your advisers, support team and clients.
Eight areas to check
1. Client records and onboarding
Ask to follow a new enquiry through information collection and client setup. Can the system represent partners, family members and linked entities? Which information must be entered again?
Evidence to request
Bring a fictional household with an SMSF or trust to the demo.
2. Planning and modelling depth
Ask which projections and scenarios are supported, where assumptions come from and how they can be changed. Check whether the modelling supports the entities and advice areas your practice uses.
Evidence to request
Request a worked example with visible inputs, assumptions and outputs.
3. Research and advice documents
Separate document storage and templates from research, product comparison and SoA or RoA generation. Establish what is included, what needs another product and how information moves between them.
Evidence to request
Ask to see the full process from supporting research to the final document.
4. Team workflows and client experience
Walk through a handoff between administrator, paraplanner and adviser. Check task ownership and progress, then view the same journey from the client's portal.
Evidence to request
Include a missing document and a reassigned task in the walkthrough.
5. Integrations and data portability
List the systems your practice depends on. Ask about supported integrations, data direction, update frequency, error handling and what can be exported if you leave.
Evidence to request
Request the supported integration list and a sample export format.
6. Security and access
Ask who can see client records, how access is removed and where production data and backups are held. Request the actual retention, recovery and incident-response arrangements.
Evidence to request
Obtain written answers and relevant assurance documents.
7. Implementation and support
Confirm import formats, data checking, training, support channels and responsibility for setup. Use a small sample of representative data to understand the work involved.
Evidence to request
Agree the implementation scope and acceptance criteria before migration.
8. Total cost and commercial terms
Compare subscription inclusions, user limits, extra modules, implementation, integrations and support charges. Check cancellation terms and data retrieval arrangements.
Evidence to request
Request an itemised quote based on your actual team and workflow.
Compare the same scenario across vendors
Ask each provider to demonstrate the same fictional client journey. Record which steps are demonstrated, which require an integration and which need a follow-up answer. Vendor websites provide a starting point; the demonstration establishes how the product fits your practice.
Explore the official product information for Iress Xplan, Morningstar AdviserLogic and intelliflo. For Souffle, start with the feature overview and practice workflows.
Get started
Bring your checklist to a Souffle demo
Tell us about your team, your client structures and the workflows you want to see. Use the walkthrough to assess the fit for your practice.