Defaqto has launched a new early warning tool designed to help advice firms identify potential compliance issues quicker.
The Defaqto Unity Quality & Compliance Hub brings together learning, CPD, training, competence and governance oversight to reduce advisers’ reliance on retrospective compliance reviews.
It claims that bringing these functions into advisers’ day-to-day workflows should reduce work and strengthen consistency across the advice process.
Mike Piddock, managing director at Defaqto, said: “For many firms, compliance still happens after advice has been delivered, creating friction for advisers and pressure for compliance teams. Our vision is to make it a natural part of the advice journey.
“By combining technology, intelligence and human expertise, we can help firms identify issues earlier, improve consistency and build a more efficient, scalable operating model.”
Defaqto added that it is currently in discussion with several national adviser networks to bring Defaqto Unity to their member firms.
Defaqto is part of Fintech and adviser support services firm Fintel.
Fintel owns a number of UK fintech and support businesses including Simplybiz and Threesixty, as well as Defaqto. In September it reported profits has climbed 11.2% to £11.8m in the six months to 30 June.
In January Fintel spent £11m to buy Pearson Ham Group’s market pricing business.
In September Matt Timmins, CEO of Fintel, said the acquisition and integration of Pearson Ham's market pricing business “enhanced our market intelligence capabilities and supported the continued rollout of our Market intelligence platform (Matrix 360).”