New deal brings more technology to financial planners
Financial compliance education and training programmes provider, Mentor Education has entered into an alliance with Suitebox in order to help financial planners become more ‘tech savvy’.
Under the terms of the deal, the first Mentor training programmes to be supported under Stage 1 of the Suitebox alliance would be the Higher Education Programmes, the Bachelor of Financial Planning and the Masters of Financial Planning.
Following this, Stage 2 would be expected to help introduce Suitebox to VET students studying the Diploma and Advanced Diploma of Financial Planning.
Stage 3 would provide an education portal available to students, the financial planning community and educators to promote and engage the development of new initiatives in financial services education.
Also, units of study would be supported with Suitebox in ‘real practice’ in areas such as fact-finding process, meetings, document management, recording of transactions, securely signing documents, the Complex Statement of Advice and other financial planning recording and reporting.
According to managing director and founder of Mentor Education, Mark Sinclair, the use and effective application of technology is the ‘game changer’ in the provision of financial advice in the post Future of Financial Advice (FOFA) and Life Insurance Framework (LIF) era.
“Not only will technology improve and enhance client/adviser interaction, engagement and capacity, it will do so with adherence to the highest standards of compliance, record keeping and cost effectiveness,” he said.
Suitebox’ head of sales for Asia Pacific, Andy Marshall stressed that Mentor was a natural fit as the group sought a partner that would support its endeavours to meet the advice needs of its modern client.
“By using and applying technology for client engagement within the Mentor curriculum our joint objective is to increase standards and efficiencies in the provision of advice and in doing so, increase access to financial advice for more Australian consumers,” he added.
AUTHOR
Oksana Patron
Recommended for you
The Financial Services and Credit Panel has made a written order to a relevant provider after it gave advice regarding non-concessional contributions.
With wealth management M&A appetite only growing stronger, Business Health has outlined the major considerations for buyers and sellers to prevent unintended misalignment between the parties.
Industry body SIAA has said the falling number of financial advisers in Australia is a key issue impacting the attractiveness and investor participation of both public and private markets.
As advisers risk losing two-thirds of FUA during the $3.5 trillion wealth transfer, two co-founders underscore why fostering trust with the next generation is vital to retaining intergenerational wealth.
