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Software partnership addresses opt-in issue

Software providers Midwinter and SuiteBox have teamed up to provide a solution that they say will make compliance with FOFA opt-in requirements easier for advisers.

According to a statement, SuiteBox will offer advisers using Midwinter's AdviceOS the capability to sign documents electronically in a video meeting, allowing advisers to give their clients the option of opting in remotely.

Advisers will be able to carry out online meetings, share screens with their clients and sign electronic documents, and have all activities saved automatically for compliance purposes.

In addition, a video recording of the client going through the process of signing the document will be saved.

Midwinter managing director Julian Plummer said he understands the frustrations advisers have about having to undergo the opt-in process.

"We know there is a great demand not only to cut down the time and effort it takes for both planners and their clients to complete opt-in requirements whilst still remaining compliant, but also to provide both with new methods of advice delivery," Mr Plummer said.

SuiteBox chief executive Ian Dunbar said the partnership with Midwinter is a great example of Australasian fintech companies collaborating to support the transformation of the industry.


"The combination of Midwinter's advice software with SuiteBox sets a new benchmark for efficiency, compliance and client engagement for advisers in Australia," he said.

Adrian Flores

Adrian Flores

Adrian Flores is a deputy editor at Momentum Media, focusing mainly on banking, wealth management and financial services. He has also written for Public Accountant, Accountants Daily and The CEO Magazine.

You can contact him on [email protected].