Over the last few years, firms in the financial services industry have witnessed a tightening of compliance regulations. Advisers have been subject to increasing compliance regimes and consumers have lost trust in the Financial services industry. For Advisers in particular, there has never been a time when ensuring that practices remain aligned with compliance regulations has been more important. However, this often translates into numerous inconveniences that combine into a productivity-halting process. Enter Worksorted: the cutting-edge cloud-based tech that is designed to aid Financial Advisers in remaining compliant with industry standards.
Trusted by our clients
Our clients are ever on the search for a solution that deals with the requirements of the industry in a manner that is efficient and an aid to productivity. This is nothing new for our team, as we understand the difficulty involved in satisfying the needs of clients while maintaining all the nitty gritty back end work. The Worksorted team have been working hard to build and develop the right tools for you, and your practice, to ensure you are delivering high-quality service without sacrificing on compliance.
Features of Worksorted Compliance Services:
Service Audit tool
The Service Audit tool allows your team to confirm whether service obligations have been met and that they are in line with client service commitments. It also allows viewing of previous service periods for audit purposes. Jobs and tasks can also be added retrospectively allowing users to update previous services delivered. Essentially, this tool provides an introspective look into whether the firm has delivered according to clients’ expectations.
Fee disclosure statement (FDS) generation
Worksorted’s Bottom up, fully-reconciled revenue through FDS allows for a compliant, accurate, fast and reliable generation of FDS. Our FDS solutions supplies users with a detailed breakdown summarising which revenue is included in the FDS generated. Moreover, it offers bulk FDS, reducing process repetition and FDS production time, especially for high volume practices and licensees. Along with this, our clients enjoy easy linking of customers for FDS Consolidate group views and share FDS documents. Thus, reducing the compliance cost and simplifying FDS for the practice and its clients.
Histories are also managed more efficiently, as it is stored against every FDS process, and it is tracked as it occurs. The history is easily retrievable for audit purposes. Our clients are able to build flexible referral and adviser payment structures with unlimited splits, customised reports and RCTI’s, as well as having the ability to quickly calculate and process practice revenue payments, Referral source and adviser’s remuneration.
Advice firms are offered a range of controls to handle the things that various users can see and do, when they are given access to the group client records. This affords firms the confidence that the individual user has appropriate access to the system features that they require.
Easily create and store Opt In with our complete end-to-end solution. The Worksorted system also includes document storage space, so your client files are in the one spot, secure and regularly backed up.
We specialise in compliance-based solutions that aid firms in maintaining a competitive advantage. Worksorted ensures that compliance is a breeze, allowing our clients to enjoy the freedom that leads to increased revenue that comes with a singular focus on the needs of their clients. If you want to become more efficient while ensuring your practice is maintaining its compliance then please, book a demo today!