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.
Recommended for you
Sharing his reasoning in joining the FSC board, WT Financial chief executive, Keith Cullen, believes “product and advice cannot be separated” from each other in the current environment.
The Emerge Foundation, a charity run by financial advisers and fund managers, has announced a scholarship program to help veterans transition into tertiary education.
In an open letter, Sequoia chief executive Garry Crole has hit out against shareholders “with a personal axe to grind” as he fights for his job ahead of an EGM.
The JAWG has announced it is in talks with Treasury around five “core principles” to strengthen the education standards for new entrants to the financial advice space.