BT updates platforms in FOFA prep
BT has updated Wrap Desktop and AdviserNET in an effort to help advisers operate in a post-Future of Financial Advice (FOFA) environment, the company has announced.
Wrap Desktop and AdviserNET have been updated to allow advisers to produce and track fee disclosure statements (FDSs) via the platform and export relevant fee information directly when creating statements, BT stated.
Advisers can also use the new tracking tool to manage fee disclosure dates, which include agreement start dates and anniversary dates, according to BT. Opt-out statuses can also be tracked via the platform.
“The FDS produced will provide advisers with all the ongoing advice fees charged to their client,” said Kelly Power, head of platforms at BT Financial Group.
“This functionality is highly customisable – allowing advisers to select the fees they wish to specify and enter the description of the services provided to meet their specific needs,” she added.
“The FOFA reforms are broad and significant and we have worked with dealer groups and advisers to design simple flexible solutions to support them in their compliance obligations.”
ASIC auditing general/personal advice divide
ASIC is deliberating on how to treat advice in its new role as the primary condu...
BetaShares launches India ETF to market
Fund manager BetaShares has launched a new ETF that will give investors access t...
Annuities added to HUB24 platform
Advisers will be able to access a new set of annuities through the HUB24 platfor...