In a statement, regtech group Fourth Line said it had been appointed by Akambo Financial Group to “help streamline its compliance regime and improve the quality of its advice through enhanced audit processes”.
The services being provided by Fourth Line included pre- and post-advice reviews for existing and new advisers, and analytics and benchmarking to help Akambo improve the quality of its advice processes.
Akambo co-founder and chief executive Anthony Kapetanovic said the licensee had selected Fourth Line for this project as the group provided “a level of sophistication and real-time oversight of the type and quality of advice being provided by our adviser network”.
“If any one particular piece of advice could be improved, it is quickly identified by the Fourth Line system and a solution provided to our compliance manager for action,” Mr Kapetanovic said.
He said licensees needed more access to timely, data-driven insights when it came to improving delivery of advice in a compliant manner.
“Akambo is ultimately responsible for the conduct of its advisers. Fourth Line provides us with the peace of mind that every statement of advice provided by advisers in our network is compliant each and every time,” Mr Kapetanovic said.
Fourth Line chief executive David Travers said the group was excited to be working with Akambo to provide enhanced insights into areas where their advice delivery could be improved.
“Our system incorporates world leading technology and a rigorous comprehensive advice review process to enable improvements in both the quality, timeliness and cost of advice,” Mr Travers said.
