CommCentral has launched a new software solution for advisers to manage different remuneration models, opt-in and annual disclosure.
The new program, REVEX, provides management of fees and commissions combined with inbuilt rules around the Future of Financial Advice (FOFA) changes, including opt-in and annual disclosure distribution.
The module also allows clients to access a complete audit trail of all documents and communications online.
With the FOFA deadline fast approaching, financial advisers and dealer groups were turning to technology for administration solutions, according to CommCentral director John Brabender.
"With the competitive and regulatory landscape changing, the pressure on dealer groups, financial planners and advisers to provide cost-effective and value-added services to clients is increasing dramatically," Brabender said. "Added to this are demands for greater transparency, more timely delivery of information, service and communication."
Brabender added REVEX was also designed for long-term fee and client relationship management.
