In financial advisory today, efficiency and client engagement are crucial to success. Wealth Today, a National Financial Services Licensee, recognised this need and enhanced their operations by implementing Bravura’s AdviceOS.
Under the leadership of Jack Standing, National Head of Advice, Wealth Today successfully integrated this advanced platform to simplify compliance, boost efficiency, and enhance client engagement.
The Problem: Balancing compliance with operational efficiency
Wealth Today needed to meet two critical demands: maintaining strict compliance standards and delivering fast, responsive services to clients. “Our main focus is on being an enabler for our advisors, ensuring that they’re able to provide sound strategic advice,” says Standing. “Predominantly, our team operates and checks all pieces of advice coming out of the business from a compliance standpoint.”
The growing complexity of regulations and client expectations required a more efficient approach to both advice creation and compliance management. “One [factor] was improving speed and efficiency, both from an advice creation standpoint, as well as an advice checking and compliance standpoint,” Standing explains.
The Solution: Implementing Bravura’s AdviceOS
Bravura’s AdviceOS offered Wealth Today a comprehensive solution to streamline operations. The platform automates time-consuming tasks, allowing the firm to maintain high compliance standards without compromising efficiency.
“AdviceOS has helped me and our entire central advice team become more simple and straightforward through streamlining the advice checking process and ensuring that we’re able to monitor FDS obligations on an ongoing basis very easily,” Standing notes.
The platform’s advanced analytics and user-friendly interface enable advisers to quickly produce high-quality, compliant advice. This ease of use has allowed Wealth Today to manage both bulk and tailored client interactions effectively, ensuring that primary risk areas, such as asset allocation and FDS compliance, are managed with ease.
The Benefits: Enhanced oversight, adviser support and engagement
Beyond operational efficiency, Bravura’s AdviceOS has significantly enhanced Wealth Today’s ability to monitor and manage compliance across its advisor network. “Wealth Today, as a result of the partnership with Bravura, has received a significant improvement in the look through on our advisors, which is extremely important to us, given the method of advice checking and compliance that we follow,” says Standing.
The ability to access all advisors’ files centrally has also upgraded Wealth Today’s oversight capabilities. “Being able to access all of our advisors’ files when reviewing any piece of advice, but also ensuring the ongoing management of their FDS obligations has been very, very valuable,” Standing explains. This comprehensive oversight ensures compliance and allows the firm to proactively manage emerging risks.
And, in an industry where personalised, timely communication is increasingly expected, AdviceOS has enabled Wealth Today to deepen client engagement. “The ability to interact and communicate with your clients on a bulk as well as on a tailored level, as well as ensure that any primary risk areas, be that asset allocation, be that FDS, whatever it may be, is really easily managed,” says Standing.
The platform’s rich functionality and mobile-friendly front end support a dynamic interaction with clients, meeting their expectations for real-time engagement. This flexibility helps Wealth Today deliver personalised advice while managing risks effectively.
Driving transformation through collaboration
The success of Wealth Today’s implementation of AdviceOS is rooted in a strong, collaborative partnership with Bravura. In a rapidly changing industry, having a responsive technology partner is critical. “The partnership with Bravura has been exceptional,” Standing notes. “One of the main things that we’ve gained and really liked from the partnership is the level of collaboration between Wealth Today and Bravura. We provide a fair amount of feedback organically from us, but it’s also sought directly from Bravura.”
This ongoing collaboration ensures that AdviceOS continues to evolve to meet Wealth Today’s needs. “Technical support from Bravura has been outstanding on a number of levels,” Standing adds, highlighting the importance of expert support in maximising the value of technology investments.
Ready to transform your financial advisory practice?
Bravura’s AdviceOS has revolutionised Wealth Today’s operations, improving efficiency, enhancing compliance oversight, and deepening client engagement. For financial advisory firms seeking to streamline operations and stay ahead in a competitive market, AdviceOS offers a robust, adaptable solution.
Contact us today to discover how Bravura’s AdviceOS can transform your practice.
