Being able to evidence that you have complied with the requirements of your Service Level Agreements (SLA), Annual Suitability Assessment Reports (ASAR) and Continuous Professional Development (CPD) will become more of a requirement going forward. The Trailblazer app has been designed to ease this burden and creates the opportunity to build an auditable database demonstrating that compliance.
Financial advisers generally are busy people. Having the technology to support their activity is seen as being increasingly relevant. Trailblazer has been designed to help with the production of relevant and accurate management information, verifying that the key areas as described above are being worked on and ultimately complied with.
Delivery of SLA’s
Service Level Agreements (SLAs) should articulate what a customer should expect for the price that they pay. Some metrics that SLAs may specify include:
• The minimum number of review meetings and over what time period.
• Adviser availability – and via what medium.
• Performance data and risk alignment.
The Trailblazer Tracking App provides automated reports that require client action for SLA compliance, and prompts details for forthcoming client meetings enabling forward planning.
With the change in regulations and the introduction of MiFID II at the start of 2018 firms are required to produce an Annual Suitability Assessment Report (ASAR).
Annual Suitability Assessment Reports (ASAR) have to be provided, and they should verify the basic details that an adviser/firm holds for that client. Records relating to suitability where a client does not proceed with the recommendation should be retained for as long as they are likely to provide value and evidence of compliance.
Evidencing appropriate Continuing Professional Development (CPD) spaced effectively across your Statement of Professional Standing year, will become more of a requirement and Trailblazer works to meet that challenge with a fully integrated CPD portal that sends automated reminders from where you are in terms of structured/unstructured CPD.
It also allows you to take photographic evidence of whatever CPD work you are undertaking and this is stored for as long as you need it to be.
CPD combines different methodologies to learning, such as training workshops, conferences and events, e-learning programs, best practice techniques and ideas sharing, all focused for an individual to improve and have effective professional development.
As CPD ensures your capabilities keep pace with the current standards of others in the same field, we need technology to do the same, that’s why our Trailblazer Tracking App allows you to easily update and record any CPD activity in an instant and whilst you’re on-the-go. Whether you want to record a simple text entry, or back it up with photographic evidence, our app allows you the choice.
For practice managers, tracking progress of individual’s Continuing Professional Development (CPD) is easy as the app provides quick and accurate reports on CPD records for the firm’s registered individuals. On top of this, the app automatically stimulates CPD audit verification. Financial Advisers can log when they have earned CPD hours and even log evidence by taking pictures of certificates gained.
Overall, managing the delivery of SLA’s, ASAR’s, and CPD is vital in today’s constantly evolving, growing and fast-paced world. That’s why our Trailblazer Tracking app has been developed to make these processes and procedures more efficient and accessible whilst on the go.