Midwinter and Suitebox solve opt-in issue
Fintech firms Midwinter and Suitebox claim to have developed a solution to the future of financial advice (FOFA) opt-in issue.
The financial planning software providers have collaborated to allow advisers to trigger a remote meeting with their client and bring up their standard opt-in document into the meeting. The client can then acknowledge and sign it electronically.
The document and all the information in it will then be readily accessible for any subsequent reference within Midwinter's AdviceOS platform.
Midwinter's managing director, Julian Plummer, said "we understand the frustrations planners have about having to undergo the opt-in process and how time consuming it can be".
"It's exciting to be able to tick this one off our list as we know there is a great demand not only to cut down the time and effort it takes for both planners and their clients to complete opt-in requirements whilst still remaining compliant, but also to provide both with new methods of advice deliver," Plummer said.
SuiteBox's chief executive, Ian Dunabar, said the software has set a new benchmark for efficiency, compliance, and client engagement for advisers in Australia.
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