“Midwinterhadthehighestsatisfactionamongplannersusingitastheirmainplanningapplication”1

1. Investment Trends 2009 Planner Technology Report released in February 2010.

Contents

Ranked #1 in financial advice software 1

Reasonable Basis 2

Plan Builder 4

Point of Sale Tool 5

Client Manager 6

AdviserTECH 9

Data & Research Capability 10

Comprehensive Training & Support 12

This brochure has been produced by Midwinter Financial Services Pty Ltd (Midwinter). Midwinter does not authorise the use of this brochure for dealings with retail clients or financial product holders. This brochure is not based on real life situations and should not be used as a basis for advice under any circumstances. The material contained in brochure is believed to be accurate and to the extent permissible by law, no liability is accepted by Midwinter for any errors or omissions or for loss or damage suffered by any person as a result of inaccuracies. This brochure is intended to provide general information only and does not have regard to an individual investor’s objectives, financial situation or needs.

To access Midwinter’s software go to www.midwinter.com.au or call 1300 882 938.

1

Midwinter’s Reasonable Basis software is currently ranked #1 in financial planning software. Midwinter had the highest satisfac-tion among planners using it as their main software planning application. Midwinter is also recognised within the financial services industry as a pioneer in the provision of compliant product replacement and technical strategy advice.

Midwinter’s Financial Planning Software SuiteMidwinter’s Financial Planning Software Suite is the enviable combination of:

• Reasonable Basis;

• Plan Builder;

• Client Manager; and

• adviserTECH.

Ranked #1 in financial advice software

Midwinter was ranked #1 overall, but Midwinter’s software also took out awards in the following important financial advice software categories:

1st Place 2nd Place 3rd PlaceTax planning Software support/training Portfolio construction

Risk research Ease of use

Debt research Data accuracy

Overall usefulness Complex planning

Value for money Compliance reporting

Speed Scenario modelling

Stability Investment selection

Source:InvestmentTrends2009PlannerTechnologyReport.

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4 key differentiating featuresSeparated clearly into product replace-ment advice and strategy advice modules, Reasonable Basis differentiates itself from incumbent financial planning software for the following reasons:

Simple and easy to use

Most financial planning software is complex and cumbersome to navigate. As a result it has become the domain of tech savvy paraplanners and admin staff. Reasonable Basis is simple and easy to use, and a main reason it is highly rated by planners. In their recent Planner Technology Report Highlights, Investment Trends commented “Asked about the best feature of Midwinter, users gave a wide variety of responses although frequently mentioned its ease of use and high quality modelling”.

Compliant product replacement advice

Guides advisers in satisfying both the reason-able basis requirements (under section 945A of Corporations Act) and additional require-ments required where providing product replacement advice (under section 947D of Corporations Act).

Optimised strategy advice

Optimises tax, super and social security outcomes within the strategy modules (Contribution, TTR, Age Pension etc) to ensure Midwinter financial advisers are generating the best financial planning strategy for clients.

Enhanced practice efficiency & revenue

Used as a front office, client-facing Point-of-Sale tool and assists advisers in generating referral sources

Greatly reduces the time taken to produce advice (from 7.5 hours average per SOA to half an hour). This will change the way you do business – no longer need to hire tech-savvy paraplanners who can navigate complex software.

Strategy Advice

Optimisation

Reasonable Basis enables financial advisers to optimise strategy recommendations throughout the accumulation, transition to retirement, and retirement phases of the client’s life cycle. Rather than adopting the traditional “accountancy-based top-down approach”, Reasonable Basis employs the “Midwinter bottom-up approach” to strategy advice. This means analysing the client’s current net income and capital position, determining whether surplus income and capital are available, and optimising the best use of that available surplus from a tax and/or social security perspective.

Cashflow & Capital

Cashflow & Capital is the backbone of the strategy advice section of Reasonable Basis. Cashflow & Capital is the new strategy advice module that enables financial advisers to quickly show a client their current cashflow and capital position, and then demonstrate the value of advice by developing multiple strategy recommendations in seconds. Cashflow and capital allows financial advisers to satisfy that classic conundrum – should the client reduce debt, gear investments outside super or contribute to super?

Reasonable Basis

3

Product Replacement Advice

Reasonable Basis guides advisers in the effective provision of “reasonable basis” for their product replacement advice and strategy advice. Midwinter’s Reasonable Basis is designed to ensure Financial advisers satisfy their additional requirements under section 947D and the new fiduciary requirements following the release of the Cooper, Henry and Rippoll reports.

Reasonable Basis also enables financial advisers to generate optimised strategy for the full gambit of advice. Midwinter’s strategy modules are designed to empower financial advisers of all levels to produce optimal strategy with minimal inputs. Reasonable Basis is the only financial planning software solution in the financial services industry which enables advisers to provide a reason-able basis for product replacement and strategy advice for:

• Superannuation planning;

• Investment planning;

• Taxation planning;

• Debt management;

• Retirement planning; and

• Insurance – retail and inside super insurance (including platforms).

Total Product Replacement

Midwinter’s latest product replacement module within Reasonable Basis, Total Product Replacement combines super, invest-ment and pension switching advice on a single screen and enables multiple existing and recommended products.

Reasonable Basis leverages off FundsBase, the most comprehensive fee and feature superannuation, pensions and investments database in the financial services industry. FundsBase is managed by Midwinter Research, assisted by a number of quanti-tative and qualitative software systems and processes.

4

Midwinter’s latest development, Plan Builder has revolutionised financial planning in Australia. A full SOA generation system which links to the Product Replacement and Strategy Advice modules of Reasonable Basis, Plan Builder dramatically reduces the average time taken to produce a full Statement of Advice (SOA) from the current 7.5 hours using incumbent financial planning software to an average of under 1 hour. This enables financial advisers to produce multiple SOAs per day, but more importantly enables the financial adviser to spend more time with clients, understanding their needs and objec-tives to ensure they are provided with quality, appropriate advice.

Midwinter’s Plan Builder team will assist IFAs and dealer groups with SOA creation and maintenance. With a depository of graphs, tables and charts for each financial advice category at their disposal, Midwinter provides SOA support where most other financial planning software providers would duck for cover.

Plan Builder

ObjectivesBasePlan Bu i lder leverages o f f the new ObjectivesBase database. ObjectivesBase is a database of dealer group or IFA specific SOA text covering:

• Objectives

• Recommendations

• Benefits/Outcomes

• Disadvantages, and

• Risks.

ObjectivesBase can be controlled at the dealer, practice or financial adviser level. Plan Builder also enables all editing of the SOA to be achieved within the system as opposed to after the Word document is created, greatly reducing compliance risks.

“Midwinterisseenaseasytouse

AskedaboutthebestfeaturesofMidwinter,usersgaveawidevarietyofresponses,althoughtheyfrequentlymentioneditseaseofuseandhigh-qualitymodellingtools.”

Investment Trends 2009 Planner Technology Report released in February 2010.

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Retirement Modelling

Retirement Modelling is a simple yet fully comprehensive retirement modelling tool for singles or couples. Retirement Modelling maps out your client’s financial position in retirement. With the changes to adviser remu-neration, it has never been more important for a financial adviser to highlight the value of their recommendations. Retirement Modelling is a great point-of-sale tool that highlights not only the need for advice to clients, but the value of the adviser’s product and strategy advice recommendations. Retirement Modelling has the flexibility and functionality to model the following:

• Superannuation, Investments and Account-based Pensions;

• Age Pension, Veteran’s Affairs Pensions and other Social Security benefits;

• Comprehensive tax analysis, pre and post-retirement, incorporating both existing and future taxation legislative changes. It includes tax offsets such as SATO, MATO and LITO;

• Ability to make commutations or transfers between different investment structures;

• Full cash-flow analysis with the ability to vary desired income levels at different ages;

• Ability to direct surplus and deficit funds to different investment structures; and

• Allows for couples retiring at different times.

Retirement Gap Analysis

Retirement Gap Analysis is a simple point-of-sale projection tool that illustrates the impact of the financial adviser’s product replacement and strategy advice recommendations on the client’s net income, capital and social security position at retirement. It is also commonly used to highlight the need for advice to the client, or potential client.

Linking to Reasonable Basis product replace-ment and strategy modules, Retirement Gap Analysis enables the adviser to then demon-strate to the client the positive impact their recommendations will have on their retire-ment position.

Point of Sale Tool

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The introduction of Client Manager, which enab les Dea ler Group Management , Client Relationship Management, Practice Management, and Portfolio Management, links to Reasonable Basis online and enables Midwinter to provide a holistic solution to financial advice practices and dealer groups.

Realising that our core speciality is in the development and provision of advice genera-tion software, Midwinter sourced the best AFSL Dealer Management, Client Relationship Management (CRM), Practice Management and Portfolio Management systems in the industry. Midwinter has purchased the right to Platformplus and associated code from Infocus Wealth Management Pty Ltd. Midwinter’s Client Manager is simple and effective and has been reconfigured to run alongside Reasonable Basis.

Client Relationship ManagementA simple but comprehensive client relation-ship management (CRM) system is vital to any financial planning practice. The problem has been the complex and cumbersome nature of existing CRMs has caused the key element of a practice – financial planning – to suffer. With Client Manager, Midwinter provides a CRM solution which will be the envy of the financial services industry. Client Management will enable financial advisers to achieve the following:

• Clientsearch– includes quick search, detailed client search, advanced data mining and reporting and pipeline bulk update;

Client Manager

• Createclient – includes the client wizard client type, client details, primary entity details, workflow details, pipeline information, client source, and contact information.

• Clientsummary– includes client details, goals & objectives, income & expenditure, risk profile, client notes and compliance office use.

• Workflowsystems– includes calendar, workflow tracking, pipeline, review and generating tax invoices.

• Informationmanager– includes financial fact find, SOAs and reviews, equities, superannuation, retirement income streams, cash, insurances, liabilities, taxation, agreements, implementation and training.

• Assets&liabilities– including summary, managed investments, equities, superannuation, retirement income streams, cash, liabilities, insurances, real estate and business.

• Reporting– provides complete breakdown of SOA and comprehensive client reporting including audit of recommendations, all fund, asset allocation, client overview, cost and revenue, client review, executor dossier, income and expenditure, liabilities, net assets, net worth, portfolio valuation, risk profiles and transactions.

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Portfolio ManagementClient Manager’s Portfolio Management tool supersedes existing financial planning software in terms of the standard of data feeds, portfolio management, and reporting. Client Manager’s Portfolio Management tool enables financial advisers the following capabilities:

• ApprovedProductList– includes fund search, managed investments, equities, cash, retirement income streams, other investments, insurances, approved services, and model portfolios.

• ManagedInvestments(Morningstar) – includes quick and advanced fund search, unit pricing queries and fund manager announcements.

• Equities(AspectHuntley) – includes quick and advanced share search, share pricing queries, research and ASX announcements.

• Announcements– includes general search, IDPS/Master trust, IMA/SMA and Dealer Group Research.

Client AccessThrough Client Manager, the financial planning practice’s clients are able to view their financial position including existing portfolios, income and expenses and assets and liabilities. They are also able to update personal details through Client Access including alterations to their Fact Find. Client Access is free for all clients of financial planning practices utilising Midwinter’s Client Manager.

Access to the client website is controlled by the financial planning practice and they will be required to issue a username and password to clients. Links to the client website can be placed on the Dealer Group of financial planning practice’s website.

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Practice ManagementFinancial advisers will be able to enhance the operational efficiency of their practices dramatically with Client Manager’s Practice Management system. Through Practice Management financial advisers will be able to control the following:

• ProfessionalStandards&Compliance – includes compliance manual, compliance forms, auditing, AR certification, training and ASIC practice statements;

• PracticeAdministration – includes staff management, marketing management, invoicing, practice contact information, client customisation, model portfolios, office management, alternative remuneration register, client advisers and referral sources;

• PracticeManagement – includes comprehensive client reporting, funds under management, completions, pipeline, cancellations and staff targets;

• Forms – includes corporate information, financial planning, human resources, marketing, IDPS/Master trust and publications.

• Workflows – includes calendar, workflow tracking, templates, role assignment and event assignment.

AFSL Dealer ManagementDealer Groups will be able to control, assist, train and monitor financial advisers within their dealer group through the AFSL Dealer Management tool in Client Manager. This will only be made available to Dealer Groups who have significant numbers of financial advisers using Midwinter’s Client Manager. Through Client Manager, Dealer Groups will be able to have complete control of the following:

• StatementofAdvice – includes Dealer Group templates, strategy text, appendices, additional inserts, compliance checklist, Dealer Group defined bookmarks, SOA library;

• FinancialFactFind – includes Dealer Group FNA and sections;

• ApprovedProductList – includes Dealer Group’s APL as well as Approved Vendors and Services, Approved Product Bulk Upload and Model Portfolio’s;

• PracticeWorkflow – includes Templates, Staff Work Assignments, and Event Assignment;

• Correspondence – includes all support documents and client correspondence documents;

• Compliance – enables complete compliance reporting including audit reporting, authorised representative listing, breaches register, CAR listing, complaints register, conflicts of interest register, generated SOAs, marketing register, paraplanning register, pre-vet register, risk register, training and workflow issue reporting.

9

Midwinter’s Financial Planning Software Suite includes Midwinter’s new technical and strategy adviser resource, AdviserTECH. Enhancing the status of “leaders in advice” is something Midwinter takes very seriously. Midwinter has recruited some of the best Technical Managers in the industry to ensure we are abreast of the latest technical developments.

Midwinter’s AdviserTECH provides financial advisers with the fol lowing technical resources:

• SuperPlanner – includes contribution standards, SG contributions, salary sacrifice & super, contribution taxation issues, preservation standards, choice & portability, conditions of release, employer ETPs, overseas super, pensions & annuities, small business CGT, insurance & super, social security & super, estate planning.

• SMSFPlanner – includes establishing a SMSF, investment standards, paying pensions from a SMSF, winding up a SMSF, stamp duty issues, tax & administration issues, estate planning issues, FAQs and useful websites.

• Super&FamilyLawGuide – includes introduction & overview, explanation of key concepts, issues for financial advisers, information requests, valuations, agreements & orders, trustee considerations, splitting issues, understanding & processing forms, splitting process, case studies and useful websites.

AdviserTECH

• TaxationPlanner – includes assessable income, capital gains tax, fringe benefits tax, imputation system, income tax for minors, personal tax offsets, pre-payments, tax structures, deductions, insurance taxation,

• InsurancePlanner – includes technical and strategy information on Life, TPD, Trauma, Income Protection (Total Salary Continuance), Whole of Life/Endowment/Insurance Bonds, Buy/Sell Agreements, Business Insurance, Children’s Insurance Policies and Insurance and super.

• SocialSecurityPlanner– includes technical information and comprehensive analysis of Commonwealth Government Payments (Age Pension, Newstart Allowance, Disability Support Pensions, DVA Pension, Allowances and Payments), transitional arrangements, work bonus, concession cards, income and asset thresholds, residential aged care and social security strategies.

• EstatePlanner – includes technical information on wills and estate planning, intestacy, legal personal representative, powers of attorney, estate equalization, and letters of administration.

• TechnicalArticles – including the latest strategy, comparison, and planning issue articles.

• LegislativeUpdate – What’s Law, What’s Pending, What’s Proposed?

• QuickStats – includes a comprehensive list of quick reference guides for super, pension, tax, social security, estate planning and insurance.

• IndustryGuides.

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Midwinter ResearchMidwinter’s Research team boasts over 40 years combined experience in data research and analysis. To ensure the data used within Midwinter’s software is of the highest calibre, Midwinter has developed a number of quan-titative and qualitative software systems and processes to assist in the delivery of data to end users.

Independent Auditor – KPMG

Midwinter currently utilise the actuarial services of KPMG to audit the function-ality, calculations and output of Midwinter’s software.

Midwinter’s PDSspider software

To combat changing platform fee and feature information, Midwinter has developed PDSspider. Midwinter’s PDSspider shoots ‘spiders’ to the investment, super and pension platforms on FundsBase to determine whether there has been a change to a PDS, whether a Supplementary PDS has been issued, or the Investment list has changed. This ensures that Midwinter Research are only updating those funds which have changed within the last fortnight.

Quantitative audit checks

Midwinter conducts a number of audit checks prior to every FundsBase update. These include ensuring MERs and ICRs are within set ranges, analysis of Midwinter Fee Indices for given sectors, and matching strategic asset allocations to given sectors.

Midwinter’s Qualitative Overlay

Given the depth of data required for Reasonable Basis, Midwinter has also developed qualitative relationships with key platforms and fund managers. This means that Midwinter can be provided with infor-mation directly, and our qualitative process enables continual feedback from fund managers.

Insurance Research – Rice Warner Actuaries

Midwinter’s Insurance Research is outsourced to Rice Warner Actuaries, an Australian-owned firm with its head office based in Sydney. Rice Warner differentiates themselves through the provision of high quality independent advice through our experienced consultants. The majority of our Rice Warner’s Principals and Consultants are actuaries.

Midwinter’s association with Rice Warner commenced in April 2009. Rice Warner provides Midwinter with ongoing support, timely updates and enhancements to improve the content and quality of the product compar-isons, premium quotes and benefit research provided through Midwinter’s Reasonable Basis. Midwinter’s Reasonable Basis contains features and prices for the retail risk products of 16 insurance companies (covering over 95% of the current retail market) and around 200 superannuation risk products (including insurance on Wraps).

Data & Research Capability

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Morningstar

Morningstar is a leading global provider of investment research. Client Manager has incorporated the Morningstar FundTraq data feed in order to provide comprehensive, reliable, up-to-date data, ratings and informa-tion for over 6000 managed funds available within Australia.

Within Client Manager, financial advisers are able to access Morningstar fund profiles which provide the following key information:

• Morningstar Recommendation (rating)

• Performance – income and growth returns and growth of $10,000 invested in the fund;

• Fund fees;

• Fund objective;

• Fund manager analysis including strategy/process, people and performance analysis; and

• Strategic asset allocation.

Aspect Huntley Research

Within Client Manager, financial advisers are able to access Aspect Huntley company profiles for all stocks listed on the ASX. The profiles are published in PDF and are reproc-essed every day to include the latest data, including:

• Financial and reporting information on all ASX listed companies.

• Quantitative and qualitative research.

• Graphical performance illustrations.

Aspect Huntley, the combined entity of Huntley’s Investment Information and Aspect Financial, is Australia’s leading provider of information and analysis on Listed Companies. Aspect Huntley’s quantitative and qualitative research has been integrated into Client Manager to provide a comprehensive offering. Aspect Huntley’s recommendation and investment rating, combined with qualita-tive rankings and consensus analysis provides a quick overview of a stock’s rating.

Van Eyk Research

Within Reasonable Basis, financial advisers are able to access Van Eyk Research product profiles on over 15,000 investment products. The product profiles provide the following key information:

• Performance – income and growth returns and growth of $10,000 invested in the fund;

• Fund fees;

• Fund objectives;

• Investor profile;

• Tax structure;

• Fund manager analysis; and

• Strategic asset allocation.

“Fantastictoassistincompletingnumbercrunchingcashflowforecasts”

Investment Trends 2009 Planner Technology Report released in February 2010.

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Midwinter’s training and support offering is highly regarded in the financial services industry. Multiple methods of training delivery are provided to ensure financial advisers, paraplanners and administration staff to be able to quickly begin to generate quality advice.

In the latest Investment Trends Planner Technology Report, financial planners rated Midwinter’s software easiest to use. Despite this, Midwinter understands that effective training is the key to ensuring Reasonable Basis and Client Manager are being used to its full potential.

Midwinter’s Help DeskMidwinter has a dedicated help desk – 1300 882 938. This support line is available for any queries in relation to the use and operation of its software. Midwinter can also be contacted through our website www.midwinter.com.au or email info@midwinter.com.au.

In-house demonstrationsMidwinter’s State Managers, Business Development Managers and Technical Services Staff are available for in-house demonstrations for Midwinter’s software users within all capital cities and major metropolitan areas. To book an in-house demonstration contact the Help Desk on 1300 882 938, visit Midwinter’s website www.midwinter.com.au or email info@midwinter.com.au. Those who are based in rural or country areas are able to utilise Midwinter Assist for online remote training.

MidwinterAssistMidwinterAssist is Midwinter’s online remote training tool. MidwinterAssist is used to train new and existing users and allows Midwinter’s Help Desk to quickly identify specific issues the user is facing. Through the use of MidwinterAssist, the Help Desk can view the user’s screen – enabling them to explain where the adviser may be going wrong without requiring them to describe the issue over the phone. This dramati-cally reduces the time required to solve user queries. The ability to control a user’s screen from also means the user is aware of how that issue should be addressed or rectified. The technology does not require the user to preload a software application on their PC and is accessed via the internet.

Live Daily WebinarsMidwinter’s training experts will guide Midwinter’s software users through different aspects Client Manager and Reasonable Basis. Sessions are interactive and attendees are able to ask questions and listen to questions and comments from other partici-pants and the trainer.

Comprehensive Training & Support

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Online Video Training & Development Playback LibraryMidwinter has developed a suite of tutorial playbacks available within the help and training areas of Reasonable Basis and Client Manager. Through the Midwinter Training & Development Playback Library, advisers can watch and listen to an experienced user navigating through the different sections. This allows users to target specific areas in which they require further training and development.

Training ManualsBoth a comprehensive training manual and a quick start manual (for those advisers on the go), are provided upon subscription to Midwinter’s software. These manuals are littered with screen shots and clearly explain the software’s functionality in a logical, step-by-step approach.

Hover HelpMidwinter’s Reasonable Basis also contains “Hover Help” on all major inputs and outputs throughout all modules. By hovering your mouse over a particular object, a small help screen will describe the input or output and its use or functionality.

“Thebestthingisthesoftwarecanbeunderstoodsothatwhenfiguresandinformationneedstobeexplainedtoclientsthereisagoodunderstandingofhowthefigureswerearrivedat.”

Investment Trends 2009 Planner Technology Report released in February 2010.

Justifying

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Contact Details

Midwinter Financial Services Pty Ltd

ACN 121 020 620

info@midwinter.com.au

www.midwinter.com.au

Tollfree 1300 882 938