Matrix and ClearView adopt Iress advice fee consent solution
Matrix Planning Solutions and ClearView Financial Advice have adopted Iress’ advice fee consent solution, allowing their advisers to capture fee consent for ongoing service fee agreements within Xplan.
The advice fee consent would then be validated and authenticated through blockchain technology and passed through to the relevant platforms.
Iress’ managing director, financial advice, Tizzy Vigilante, said Iress developed the end-to-end solution in collaboration with Matrix and ClearView and other industry players.
Vigilante said the solution enabled licensees and advisers to securely send data and fee consent forms to platform providers as well as manage return responses.
“The automated solution will result in reduced time spent on paper-based administration and data entry for advisers, as well as increased connectivity between licensees, advisers, clients and platforms,” said Vigilante.
Clearview and Matrix were acquired by Centrepoint and Centrepoint group executive – technology solutions, Tanya Seale, said: “Annual ongoing advice fee consent is an industry-wide challenge and the ability to send the consents electronically from your advice software to the product providers results in a seamless and secure industry solution that drives efficiencies by minimising the compliance and administrative burden on advisers.
“We hope that more product providers will adopt the solution to make it easier for advisers to do business with them.”
Recommended for you
Apostle Funds Management has appointed the newly created position of director, head of wholesale as the firm expands its Australian footprint in the wholesale sector.
Recruitment manager Robert Half has shared the most in-demand roles in financial services that firms are finding difficult to fill, driven by ASIC’s growing focus on risk and compliance.
ASIC chief executive, Warren Day, is among senior executives to depart the corporate regulator amid changes to its leadership team.
Iress has completed the sale of its platform business, bringing $4.1 billion in funds under administration over to Praemium.
