Model Office has launched a new suite of integrated dashboards designed to transform how financial advice firms manage training and competence (T&C) supervision.
The regtech firm said its latest software hub, developed in response to client demand, consolidates disparate systems into a single platform, reducing the need for what it called “swivel chair compliance”, where supervisors and auditors rely on a patchwork of spreadsheets, checklists and legacy tools.
The system integrates with back-office technology, the Financial Conduct Authority register and third-party CPD providers, automatically pulling in data to create real-time dashboards. These provide scoring across all T&C key performance indicators and management information, offering supervisors a central point to monitor adviser performance and compliance.
Features include automated audits and sign-offs across client file reviews, advice suitability reports and compliance policies using AI tools. The dashboards also track a broad range of FCA requirements, including complaints, breaches, authorisations, financial promotions and case checking. Firms can configure the platform to add their own KPIs and audit requirements.
By creating digital audit trails, the system aims to ensure that issues such as client vulnerability, poor cost-benefit analysis and foreseeable harms are identified, addressed and evidenced.
Chris Davies (pictured), founder and director of Model Office, said: “Model Office’s mission is to ensure advice firms have all the data and MI they need to evidence they comply with FCA regulations in one place at the click of one button.
“We do this by integration, automation and empowering self-regulation. Our new automated T&C dashboards do just that, aggregating all relevant FCA register, back-office data into one T&C hub and use generative AI so firms’ supervisors and auditors gain digital audit trails so they can evidence they have addressed gaps, taken remedial actions and comply with ongoing T&C requirements.”
