Reg tech provider helps adviser network meet its Consumer Duty requirements

by | Sep 19, 2023

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Clinical reg tech provider, Comentis, has today announced an agreement with In Partnership, a leading network of financial and mortgage advisers. In Partnership will implement Comentis’ clinically developed Financial Vulnerability Assessment tool across its network of 500 advisers, introducing it for all In Partnership advisers as part of the Know Your Customer (KYC) compliance process. 

Fully aligned to the FCA’s four drivers of vulnerability, the Comentis system is an assessment that enables advisers to successfully identify vulnerable client characteristics. It combines cutting-edge technology with the clinical expertise, which is seamlessly integrated into advisers’ existing technology and ongoing processes.

When identifying and supporting their vulnerable clients, In Partnership’s advisers will benefit from a clear and defined audit trail, together with consistency across the vulnerability assessment process.

 
 

Jonathan Barrett, CEO and Co-Founder at Comentis, said: 

“Vulnerability is high on the regulatory agenda right now, and rightly so. With Consumer Duty upon us, it’s more important than ever for advisers to be equipped to identify any, and indeed, all signs of vulnerability.  Our market-leading software will ensure that all In Partnership advisers are able to better identify their financially vulnerable clients and support them in delivering the outcomes that clients deserve.”

Gordon McNeill, Group Compliance Director at In Partnership, comments:

 
 

“We know that Consumer Duty emphasises the importance of identifying and supporting vulnerable customers, but we also know that many advisers are still – understandably – struggling with this incredibly complex process. Moving forward, financial advisers will need all the support they can get, which is why we are deploying this tool to both networks of our group, The On-Line Partnership Limited and The Whitechurch Network Limited. Comentis’ combination of cutting-edge technology, developed with clinical knowledge, will be invaluable to ensuring all at-risk customers are identified and supported correctly.”

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