Advise Wise and Comentis have established a partnership to better support advisers managing vulnerable clients.
- Through the partnership, Advise Wise members can utilise Comentis’ vulnerability assessment tool via API integration.
- This tool follows the FCA’s four vulnerability drivers and meets Consumer Duty regulations.
- Advisers benefit from technological insights combined with mental health and psychology expertise.
- Comentis’ software allows for efficient and accurate identification of client vulnerabilities.
Advise Wise has collaborated with Comentis, integrating their vulnerability assessment tool into its platform. This integration provides advisers with a robust method to identify and document vulnerabilities systematically, aligning with the Financial Conduct Authority’s (FCA) drivers of vulnerability and adhering to Consumer Duty regulations. The Comentis tool is designed to pull client information directly from Advise Wise accounts, facilitating a smooth and comprehensive assessment process.
The strategic alliance enables the combination of advanced technology with psychological and mental health insights, reflecting a commitment to delivering superior support to later life advisers. Benjamin Wells, head of product and development at Advise Wise, views the partenariat as pivotal for empowering advisers to meet regulatory obligations confidently. “Our partnership with Comentis reflects Advise Wise’s commitment to supporting later life advisers with the resources they need to provide the best advice to clients, especially in cases of vulnerability,” Wells stated.
Accessorily, this union is poised to enhance service quality and client protection, proposing a new industry benchmark. Jonathan Barrett, CEO at Comentis, emphasised the importance of such tools amid increasing regulatory scrutiny concerning vulnerability identification. He remarked, “Despite it being well over a year since Consumer Duty was introduced, regulatory scrutiny around vulnerability continues to increase so it’s more important than ever for advisers to be fully equipped to identify any, and indeed, all signs of vulnerability.”
The vulnerability tool significantly remodels the adviser’s workflow by integrating into existing systems on the Advise Wise platform. Due to API integration, the tool assembles pertinent client data to streamline the assessment, giving advisers a precise understanding of potential vulnerabilities among their clients rapidly. This innovation underscores Advise Wise’s dedication to providing advisers with necessary and reliable tools, ultimately benefiting vulnerable client populations.
This collaboration sets a new standard in vulnerability management, ensuring advisers are well-equipped to serve clients efficiently and effectively.
