OnPay and AdviserLogic integrate
Financial planning software system, AdviserLogic has integrated with cloud-based revenue management platform, OnPay, to make fee and commission data available to AdviserLogic users.
The fee and commission data files are available in the adviser's customer relationship management (CRM) system helping bring additional efficiency, AdviserLogic managing director, and OnPay product manager, Gundeep Sidhu, said.
Sidhu said the efficiency is now brought at the practice and licensee level, and helps advisers to run complying practices.
"In this instance, the AdviserLogic CRM allows the management of fee disclosure statements and opt-in information with proper record keeping of client communication," Sidhu said.
"There is still a lot of scepticism around the implementation of compliance functions from a licensee's point of view.
"To be fair there are no easy answers for many questions such as how to deliver informational effectively to clients, keeping records of client wishes, and communicating the outcomes to the respective product providers and other service providers."
Recommended for you
Having sold Madison to Infocus earlier this year, Clime has now set up a new financial advice licensee with eight advisers.
With licensees such as Insignia looking to AI for advice efficiencies, they are being urged to write clear AI policies as soon as possible to prevent a “Wild West” of providers being used by their practices.
Iress has revealed the number of clients per adviser that top advice firms serve, as well as how many client meetings they conduct each week.
Morningstar has made two business development appointments to drive the growth strategy of its financial advice software, AdviserLogic.