- Technology enables seamless user experience at the point of sale
- New advisory process offers a high degree of user-friendliness with maximum time savings
- Support of all business processes and customer groups
- Test certificate confirms regulatory compliance
With the recent roll-out of the new FinVermV-compliant advisory platform to our B2B partners, and, therefore, already months before the official launch of the new FinVermV, fundsaccess offers its clients a state-of-the-art advisory process. The technology was developed with a focus on user-friendliness and high process efficiency. Furthermore, the regulatory compliance was confirmed by a renowned law firm.
Which customer groups can be served with the new advisory process?
Basically all customer groups. In addition to the classic single person constellation, minors, authorized representatives, joint accounts as well as the different types of company accounts can be documented.
What can be documented?
Basically everything. It is possible that several banks are consolidated in the respective client application. Furthermore, besides securities also AIF, bank-specific special products, model portfolios, ‘look-throughs’ for funds of funds or asset management strategies with real-time interfaces to the custodian banks can be displayed.
How is the process structured?
The documentation process starts with the customer data collection. Mandatory field checks and plausibility checks ensure the necessary completeness and correctness of user input. As a result, the system classifies the customer according to regulatory criteria. Particularly noteworthy is the possibility of entering different investment goals for the customer and, if necessary, defining different investment horizons and/or risk tolerance levels for these different investment goals.
The investment proposal shows the historical development of the investment proposal, visualizes the possible performance of the investment recommendation and enables a comparison with indices.
A automatically generated cost and inducement statement is also part of the advisory process. At this point it is important to provide the user with full technical support, as there are significant differences in the amount of costs/inducements depending on the custodian bank and fee model.
The folder for the meeting is automatically generated and includes all required files for the selected financial instruments and the already completely filled account opening documents and order forms. Furthermore, they are provided with a time stamp and then saved in the respective client application. All historical documents are retrieved via a document archive.
“The latest version of our electronic documentation process underlines the advantages of an integrated system: The advisor starts with the customer data collection, prepares a customized offer including a declaration of suitability as well as a complete cost and inducement statement and receives the necessary product information from the databases on investment funds and AIF. Finally, a customer management system consolidates the various transaction banks and also displays the performance of all investment products in a comprehensive reporting,” says Rolf-Henning Hackel, who leads Sales at fundsaccess AG.
fundsaccess AG is one of the market-leading SaaS providers for digital advisory and processing services in the German-speaking area. As an established Fintech company, fundsaccess implements applications for well-known banks, insurance companies and major distributors. These applications help to present and manage the financial life of a client in a regulatory compliant manner throughout the entire advisory process. The product range includes investment advisory and portfolio optimization systems, product databases and a cross-bank customer management system.
fundsaccess AG is a venture of the Fintech and Insurtech Company Builder Finconomy AG.
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