Called Quality Analyser, which has already attracted nearly 1,500 registered users and is accessed at www.advisersoftware.com, helps advisers and employee benefits consultants make informed supplier selections and decisions based on individual client requirements. It compares solutions for auto-enrolment, GPP, GSipp, life, critical illness and income protection, as well as compliant management systems, financial planning tools and risk profiling and portfolio construction. F&TRC says the service enables advisers to demonstrate a formalised process in making supplier selections.
Thirteen auto-enrolment chapter topics within the Quality Analyser service have been accredited for CPD by the Personal Finance Society and the CII, with further chapters are due to be accredited.
F&TRC managing director Ian McKenna says: “RDR has ushered in a new age of transparency, placing further emphasis on ensuring – and documenting – client suitability for the products and services selected. While this is to be welcomed, it places a huge additional burden on advisers. The free Quality Analyser service can help reduce the time advisers spend on research while strengthening their compliance and due diligence procedures. We continue to add to the information available and hope that the new tutorials will help advisers get the most from the service.”
Personal Finance Society chief executive Keith Richards says: “Quality Analyser is an extremely effective, technology-based system, which also forms a vital education and support facility for advisers. Due diligence is now central to the financial planning process and it is vital that advisers ensure their procedures are fit for purpose, using third party tools to support internal resource where appropriate.”
