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AdviserLogic ups compliance capabilities

AdviserLogic has inked a deal with cloud-based revenue management platform OnPay, which will see its users have access to fee and commission data.


According to a joint statetment, OnPay has now published its application program interface (API) guidelines which include fee and commission data.

AdviserLogic managing director and OnPay product manager, Gundeep Sidhu, said the move would allow practices and licensees implement compliance measures more efficiently.

"There is still a lot of scepticism around the implementation of compliance functions from a licensee's point of view and to be fair, there are no easy answers for many questions, such as how to deliver information effectively to clients, keeping records of client wishes and communicating the outcomes to the respective product providers and other service providers," said Mr Sidhu.

"What we are doing at OnPay and AdviserLogic is continuing to build solutions that help implement various aspects of these complex pieces."

To accept OnPay data, AdviserLogic has adopted a system that connects with OnPay's open API.


"This allows the fee and commission data files to be available in the adviser's CRM system, without any manual interference," Mr Sidhu said.

"In this instance, the AdviserLogic CRM allows the management of FDS and Opt-In information with proper record keeping of client communication," he said.