{"id":57016,"date":"2021-08-09T14:10:51","date_gmt":"2021-08-09T04:10:51","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=57016"},"modified":"2021-08-17T08:44:51","modified_gmt":"2021-08-16T22:44:51","slug":"new-tech-partnership-to-deliver-compliant-advice","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2021\/08\/09\/new-tech-partnership-to-deliver-compliant-advice\/","title":{"rendered":"New Tech Partnership To ‘Deliver Compliant Advice’"},"content":{"rendered":"

Financial advice \u201cdisruptor\u201d Asendium<\/a> has announced it has entered a memorandum of understanding with regtech firm Fourth Line<\/a> to integrate platforms and enable its customers to receive risk and compliance reviews of advice documents as part of their advice delivery.<\/p>\n

A statement from the company says it is \u201c…transforming the way financial advisers deliver advice, through a dynamic platform that creates all required advice documents at the same time, through one instance of data entry\u201d.<\/p>\n

It adds that this is designed to eliminate the manual part of advice generation, \u201c\u2026thereby creating more time for advisers to work with clients and build their business\u201d.<\/p>\n

\"\"<\/a>
Scott Miller.<\/figcaption><\/figure>\n

Asendium CEO, Scott Miller<\/strong>, says the company is focused on using technology \u201c\u2026to transform the advice landscape, and how advice is delivered to clients. Through our platform we remove vast amounts of manual work and ultimately simplify and optimise the advice creation process\u201d.<\/p>\n

He adds that through its Fourth Line partnership it is able to offer risk and compliance reviews to all its clients\u2019 advice as part of their document preparation which, he says, will be of particular benefit to small or emerging practices and IFAs.<\/p>\n

\u201cThis means our clients can create advice documents faster … but with the robustness expected of leading advice firms, and consumers.\u201d<\/p>\n

The company adds that while auditing of documents is considered a time-intensive process, the nature of Asendium\u2019s structured data environment means an integration with Fourth Line will deliver its clients same-day compliance reviews.<\/p>\n

It says the integration will increase efficiencies in both systems and for the overall advice creation and review process.<\/p>\n

…every adviser can have their documents reviewed before going to the client…<\/p><\/blockquote>\n

\u201cAsendium removes all paraplanning costs, which on average cost advisers $500 per client. This means every adviser can have their documents reviewed before going to the client, and it will cost less than their current model,\u201d Miller states.<\/p>\n

He says that finding ways to be more efficient is \u201c\u2026clearly a significant objective for advisers in the face of spiralling costs, but ensuring their advice is compliant remains critical. Fourth Line can provide that security for Asendium customers\u201d.<\/p>\n

The company states that it acts as \u2018guard rails\u2019 for developing compliant advice, and advisers can generate in-house, next day comprehensive and personalised advice \u2013 for a multitude of advice steps including fact finds, strategy papers, file notes and instant statements of advice “in a matter of hours”.<\/p>\n

The statement notes that Fourth Line provides risk and compliance reviews of advice documents on behalf of an adviser or licensee, and focuses on reviewing documents both on quality, and content.<\/p>\n

Fourth Line CEO, David Travers<\/strong> says his company was \u00a0established in 2019 in conjunction with law firm Mills Oakley, \u201c\u2026in response to the Royal Commission and helps financial advisers and licensees ensure that their advice documentation is compliant before they are sent to the customer\u201d.<\/p>\n

The statement says Fourth Line has facilitated improvements in the standards of advice for individual advisers, teams, and across licensees.<\/p>\n","protected":false},"excerpt":{"rendered":"

Financial advice \u201cdisruptor\u201d Asendium has announced it has entered a memorandum of understanding with regtech firm Fourth Line to integrate platforms and enable its customers to receive risk and compliance reviews of advice documents as part of their advice delivery. A statement from the company says it is \u201c…transforming the way financial advisers deliver advice, […]<\/p>\n","protected":false},"author":24,"featured_media":57022,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8,7],"tags":[],"class_list":{"0":"post-57016","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-compliance-regulation","8":"category-technology"},"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/57016","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=57016"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/57016\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media\/57022"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=57016"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=57016"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=57016"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}