Iress targets advice fee consent
Iress has signalled it is ready to roll out a key component of its infrastructure as a service strategy declaring it will go-live with its blockchain-based approach to allowing licensees and advisers to manage new advice fee consent requirements.
The solution will allow advisers to use Xplan to manage their obligations but is ultimately intended to be advice software and platform provider agnostic.
Iress has been developing the solution in collaboration with licensees including Clearview’s Matrix Planning Solutions.
It is designed to allow advice practices and their technology providers to securely send data and fee consent forms to platform providers as well as manage return responses with any industry participant that implements the service.
Commenting on the move, Iress chief commercial officer, Michael Blomfield, said the service had been designed in collaboration with the industry and leveraged blockchain technology to authenticate agreement at each and eery stage of the value chain.
Matrix Planning Solutions chief operating officer, Tanya Seale, said the dealer group had been working on the solution with Iress, advice licensees and platforms since the beginning of the year.
She said that plans were underway to roll the solution out to the Matrix adviser network early next year.
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