Advise Wise is to team up with Comentis, the duty of care assessment company, to provide advisers with a solution for identifying and supporting vulnerable clients.
Following an API integration, Advise Wise members can now access Comentis’ vulnerability assessment tool, which helps advisers determine and document areas of potential vulnerability among clients in an objective and consistent manner.
Aligned to the FCA’s four drivers of vulnerability and in line with the Consumer Duty regulation, the Comentis tool enables advisers to consistently identify vulnerable client activity. It will be integrated into existing technology and processes that Advice Wise provides to its members.
SIMPLIFICATION
The integration simplifies the client assessment process, with advisers registered on Comentis having ‘one-click’ access to the vulnerability tool directly from the Advise Wise Platform.
By automatically prefilling client information from their Advise Wise account, advisers can save time while conducting a thorough and accurate vulnerability identification assessment, pinpointing specific areas where a client may be at risk.
Benjamin Wells, Head of Product & Development at Advise Wise, said: “Our partnership with Comentis reflects Advise Wise’s commitment to supporting later life advisers with the resources they need to provide the best advice to clients, especially in cases of vulnerability.
“We’re excited to offer this streamlined, reliable tool, and we believe this partnership will have a positive impact on advisers, their clients, and on the industry as a whole.
“Together, we are helping set a new standard for service quality and client protection in the industry”
“By joining forces with Comentis, we’re able to empower advisers across the later life market, enabling them to provide more tailored support to their clients, with the confidence that they are meeting their regulatory obligations on vulnerability. Together, we are helping set a new standard for service quality and client protection in the industry.”
Jonathan Barrett, CEO of Comentis, added: “Despite it being well over a year since Consumer Duty was introduced, regulatory scrutiny around vulnerability continues to increase so it’s more important than ever for advisers to be fully equipped to identify any, and indeed, all signs of vulnerability.
“Our market-leading software will ensure that all Advise Wise members will be able to better identify their financially vulnerable clients quickly and efficiently.”
