To assist firms with meeting their regulatory obligations in light of Consumer Duty, Analyser now enables advisers to produce individual and exportable client suitability reports. This feature builds on the current capability for due diligence reporting at firm level and is also designed to support platform to platform switching - streamlining and evidencing the whole selection process.
The reports include suitability statements on why a platform is preferred, capturing the full rationale behind the decision as well as factors like proposition and client preference.
Additionally, a new dashboard can be personalised for advisers and their firms, and multi-factor authentication has been added to protect client data.
Terry Huddart, Digital Director at the lang cat, said: “We’re constantly listening to advisers and paraplanners to get their feedback and designed Analyser’s latest version with this firmly at the front of our minds. Firms can now use their due diligence at firm level as a solid foundation to build robust individual client suitability reports - documenting the whole approach.
“We believe this will be particularly useful when it comes to platform switching, and in the Consumer Duty environment, evidencing decision making on behalf of clients to show that you’ve put their needs first.”
“Our model and approach to supporting advisers is unique in this space. This is a system which makes it easier for them to deliver the best possible client outcome in terms of platform and MPS selection. It’s not a prospecting tool for providers, and it’s for that reason we ask advisers to pay a small amount to use it, and don’t ask providers to pay to list their propositions – unlike other systems which often charge five figures even before marketing gimmicks like ‘enhanced listings’.”
