Advisory Models PRO – October progress update

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For financial professionals only

Our teams are working hard to get Advisory Models PRO ready for launch, and we’re on track to welcome our first launch partners before the end of the year.

On the technology front, we’re in the final rounds of testing the proposition – though we’ll keep developing new things. Business wide, our teams are preparing to answer your questions and support you in running your advisory models using our award-winning technology.

October’s update zooms in on consent, our upcoming mobile app and what to expect over the next few weeks...

How does the consent process work?

When you change something within a model portfolio, Advisory Models PRO will automatically issue a request for consent. Advisers will be notified if they have any affected clients, and clients will be notified when they have a change to consent to. Alongside an invitation to consent, they’ll have access to the changes, the KIIDs for the changes and any disclosures on their affected models.

Digital consent can be recorded in 3 ways: clients can provide consent via their portal; they can consent via our new mobile app; or advisers can record consent for them by uploading an offline consent with evidence. Once we have consent, the client will move to the latest version and any trades will be automatically added to our trade queue.

When are Parmenion going to have a mobile app?

Very soon! Our staff have been using the mobile app for several weeks now, getting to know how it works and giving us their feedback. The app is heavily linked to multi factor authentication security, so it’s very important to get it right.

Your client will automatically authenticate when logging in to the mobile app, and if they log into their portal they’ll need to use the mobile app to authenticate during their login. The app will continue to provide authentication for advisers, if this has been set up.

The app will also play an important role in gathering client consent on any advisory model portfolio changes. From day 1, customers will be able to use it to review the changes, view the disclosures and provide their consent. If your clients are not invested in an Advisory Model, they’ll still be able use the mobile app’s other features.

What should I expect next?

Look out for an update once the mobile app is available. When it’s ready, feel free to invite all your clients to use it.

We’ll be in touch soon about updates to the Client Terms and Intermediary Services Agreement to cover Advisory Models PRO. While these updates are relevant for all customers, they are nothing major. We’re just making sure we’re ready to support advisory services.

Who can I talk to about this?

If you’d like a demo from one of our Customer Success team, please speak to your Regional Sales Manager.

This article is for financial professionals only. Any information contained within is of a general nature and should not be construed as a form of personal recommendation or financial advice. Nor is the information to be considered an offer or solicitation to deal in any financial instrument or to engage in any investment service or activity.

Parmenion accepts no duty of care or liability for loss arising from any person acting, or refraining from acting, as a result of any information contained within this article. All investment carries risk. The value of investments, and the income from them, can go down as well as up and investors may get back less than they put in. Past performance is not a reliable indicator of future returns.  

Speak to us and find out how we can help your business thrive.