Synchron plans to integrate its recently launched adviser software SyncAdvsr with accounting software Xero.

SyncAdvsr was made available to every Synchron advice business in February.

Director Don Trapnell says the dealer group is in the final stages of talks to integrate it with the accounting tool.

“A partnership with Xero will provide our advisers with complete confidence when dealing with referral and product partners,” he said.

“They will be able to clearly see how much revenue they have received from where, and cross-reference that information with their bank statements. This will make it extremely easy for them to see what they have been paid and what is still outstanding.”

SyncAdvsr automatically generates fee disclosure statements and opt-in notices and monitors the return of notices via a central dashboard in the dealer group’s Melbourne head office.

It also incorporates business analytic metrics that group commissions and fees received per adviser and life insurance company.

It then automatically calculates and produces commission and fee-split statements for referral sources such as accountants, general insurance brokers and finance brokers.

Mr Trapnell says more than half of Synchron’s 400 advisers have signed up to SyncAdvsr.

“This tool is allowing Synchron advisers to maintain and nurture their client relationships, while improving efficiency in their business,” he said.