Fintech YTML has rolled out its newest automated solution which is helping to quickly generate high volumes of personalised Statements of Advice (SoAs) for simple advice.
Terri Ho, YTML General Manager, Advice said having to write SoAs or RoAs for a change impacting a large group of clients is one of the most time-consuming, frustrating and expensive exercises for licensees and advisers.
“Changes can come about for a range of reasons – a change of platform or the removal of a product from an Approved Product List, for example. If you have a big book of clients you will have a large number of SoAs or RoAs needing to reference that change. That can take up an enormous amount of time and it’s costly.”
“We custom-built the capability to generate SoAs for a practice transitioning clients into a new platform within a week and a half,” she said. “This allowed SoAs to be prepared and out to the clients quickly.”
Ms Ho said it is in everyone’s interest to simplify these kinds of processes and automation allows for better consistency and compliance.
“The days of manual handling are now over. For simple advice, the solution we built can process hundreds of personalised documents at a time. It offers a simplified approach for large volumes of changes which result in minimal disruption for the advice practice and for the client.”