Hi guys,

August is that time of year when the end of financial year is a distant memory. Businesses are generally well and truly back into the swing of things after a bit of respite from school holidays in July. It’s also that time of year where many of us, particularly those in the southern States, desperately look toward Spring in the hope of better weather, lighter mornings and that our beloved footy team manages to scrape into the September finals. Whether you are NRL or AFL, I hope your team got in.

For myprosperity, August was a hectic but successful month. We were thrilled to see an influx of new partners come on board and so welcome to you if this is your first newsletter that you are receiving from us. As our business continues to grow we were delighted to see our partner numbers clock over the 400 mark, and with now well over 15,000 active client subscribers to the myprosperity wealth portal.

myprosperity was amongst the the last 5 finalists at the Ernst & Young Wealth & Asset Management (WAM) Tech PitchFest

We kicked off August with a bit of an achievement that put a smile on the face of our developers. We entered the Ernst & Young Wealth & Asset Management (WAM) Tech PitchFest earlier this year. It was a competitive field and the presentations started back in June, with various rounds continuing over the ensuing weeks. We were delighted to be amongst the the last 5 finalists, with fintech startup and ethical online share trading platform , Goodments, taking out the coveted prize. Whilst our focus is to continually improve and evolve the myprosperity platform, it is nice to be involved in awards like this and to be recognised for the innovation that we have delivered in market to date.

In the midst of this fintech award we continued to release some updates in the myprosperity platform. Notably, we released integration to NowInfinity for their ASIC compliance signing process and continued to evolve our new Tax Wizard. This feature was released earlier in the year and designed to replace the tax checklist and streamline the collection of ITR tax information for end of year. We continue to receive feedback from partners who are putting this into action with their clients. We are getting closer to bringing ATO pre-fill into this wizard and we know this will make a big impact on adoption.

We also released our first integration to an investment platform provider in Implemented Portfolios. This latest integration will allow an advisor to bring a clients’ investment holdings and balances from Implemented Portfolios directly into their myprosperity Wealth Portal. This is an exciting development and having built the necessary API layer to deliver this capability now means we can target additional investment platforms to integrate into myprosperity.

Chris Ridd presenting at Class Connect 2017

August was also the month that the SMSF Administrator platforms (BGL & Class Super) decided to emerge from the mist of legislative changes to super rules that kicked in on July 1st, and got busy on the road with events to inform their faithful partners about what they should be doing. myprosperity was invited to present at both Class Connect in Sydney and then at a series of events across the country with BGL RegTech17 roadshow. There were some great audiences at these events and we were able to share our vision of the personal wealth industry as well as tips on change management and technology trends taking place in the advice industry.

Finally, our bookkeeping program continued to gather momentum, with 160 bookkeepers now having completed myprosperity certification and nearly 50 listed on our partner directory. We were also pleased to make a soft landing in NZ with myprosperity now available in this market, albeit with some limited functionality. Presenting at the MYOB Partner Connect event in Wellington, Stephen Jackel (CTO) saw 10 bookkeeping partners sign up on the spot and many more accounting practices express interest in coming on board. So whilst we are a no show when it comes to the Bledisloe, perhaps we may have more success in showing the Kiwis some good Aussie innovation in personal wealth.

myprosperity CTO Stephen Jäckel presenting at the MYOB Partner Connect event in NZ

As we look to September, the month is shaping up to be a biggy with loads of new program and product updates and we’ll be hosting a breakfast event on Day 2 of the Xerocon conference in Melbourne. Details on how to register are provided here. With school holidays coming, our next newsletter will be out in October so we look forward to sharing an update with you then. In the meantime, all the best for a great month ahead and enjoy the madness of the footy finals.