Jason talks to Lori Weir and Jeff Harvie. They are going to specifically talk about how they have helped advisors and firms deal with implementing new systems to help them better support themselves in this new regime CFR. Lorie started the company in 2015, and they set out to help investors feel more confident that they were invested in products that met their risk tolerance and financial goals.
Episode Highlights:
- 4.04: CFR is one of the biggest regulatory changes we have seen probably in the last 20 years, says Jason
- 5.28: When we looked at the opportunity with our platform or open architecture, the way we use data, we looked at the CFR requirements and said we could help firms scale the requirements so that they can demonstrate that they're meeting the obligations, says Lori.
- 13.21: There are so many permutations around selecting equity, and that really falls into what the role of the advisor is now, says Jeff.
- 23.01: One of the things that we have proven out in the last 12 months is that we can prototype and roll-out required modules because we’re sitting on top of the data, and we can move to rollout a module without changing the advisor experience, says Lori.
- 28.57: We do provide the ability to drift monitoring. We can provide an indication to advisors like are they red, orange, green, or where are they sitting in terms of the spectrum of client portfolio and can they take on or take off risk from the call the road forward, says Jeff.
3 Key Points
- Jeff started out doing suitability oversight, and suitability oversight requires an understanding of the client’s risk profile to make comparisons for securities transacted on a client account.
- There have been so many standalone processes, and we have been digitizing them and simply replicating in multiple places. So, if you are inputting something once it gets used across the process and can be viewed by anyone, says Lori.
- Our platform can help firms organize RTQ and score to 100 via risk scoring within our applications that are proprietary to us so that we can score individual securities and compare those two at a client or an account level from a security selection perspective, says Jeff.
Tweetable Quotes
- “Our solution set is built around the back, mid and front office to enable a seamless experience for the investor, the advisor, and the head office folks providing oversight.” - Lori
- “We just make it easier to collect, update, and monitor client information, which is vital.” - Lori
- “We really strive to make sure that the client information is as up to date as possible so that you can do a true reconciliation on, where the client is at from a risk appetite.” - Lori
Resources Mentioned:
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