Did you know you can run a dedicated "Check Compliance" report against your WealthSolver scenarios to catch red flags and data errors before they ever reach your advice document?
With a single click, the report checks your scenario for products without an asset allocation or balance discrepancies, closed investment options, manual fee overrides that deviate from the standard, missing Replacement Advice or proposed asset allocations that don't align with the client’s Risk Profile.
Use the Compliance Check feature:
- From inside a scenario to check your modelling before finalising -Â Click the Actions button > select Compliance and a summary appears on screen for you to review
- To record your Compliance Check as a file note - Click the Actions button > select Quick Merge > WealthSolver Scenario Compliance and merge the standard compliance report.
- As an adviser or compliance officer, run the Compliance Check from the main Scenario Selection list screen without ever needing to open the scenario itself
Why bother?
- Risk Mitigation: It automatically flags discrepancies that might be missed, such as proposing an investment option that is closed to new members or recommending a strategy that has drifted outside the client's agreed Risk Profile.
- Data Integrity: It catches manually overridden fees or balance warnings ensuring that the figures you are presenting to the client actually match the underlying technical data.
- Efficiency: Running this report in real time before you merge it into an advice document allows you to fix any technical oversights immediately.
Essentially, it moves the compliance check from the end of the process (where it can be expensive to fix) to the middle of the process (where it’s a quick adjustment).
