InvestmentLink product to provide ongoing compliance
Financial data provider InvestmentLink is developing a product that will allow advisers to resolve queries promptly and ensure ongoing compliance.
In a statement, the company said the product, Halcyon, will flag issues as they arise, giving advisers immediate visibility to potential problems.
InvestmentLink chief technology officer Wayne Robinson said clients are demanding increasingly sophisticated portfolios.
“Regulators continue to focus on compliance problems and are asking licence holders to demonstrate stronger oversight of adviser activity,” Mr Robinson said.
“Not only will Halcyon offer a streamlined cost-effective compliance solution, it has the potential to end the reputational damage that individual advisers, through error or deliberate action, can inflict on a brand.”
Mr Robinson further added that Halcyon will also do away with the need for onsite periodical or random auditing.
“If the composition of a client portfolio changes with market and individual product fluctuations, or if a client risk profile shifts due to changing personal situations, Halcyon will alert advisers of remedial actions that may be necessary,” he said.
“They will not be reliant on the dealer group to manage their risk and compliance.”
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