TIQK believes a better financial services industry augments experts with intelligent technology to review every piece of advice.
They believe that the quality of a Statement of Advice (SoA) is a strong indicator of the quality of the financial advice process for a client.
TIQK also believe that the industry practice of sampling only 5 – 10% of the millions of SoAs produced each year is a poor predictor of compliance.
By rapidly and intelligently assessing every SoA for critical regulatory requirements, Best Interest Duty, and financial advisor behaviours, TIQK reduces the effort of auditing SoAs by up to 50% – freeing your experts to investigate identified risks and conduct coaching and development.
Combining expert compliance analytics, natural language processing, and artificial intelligence, TIQK audits more than 500 data points in a typical SoA in just seconds.
This makes it possible to rapidly review the critical legislative and regulatory checklist items, and solves the challenge of ensuring the Safe Harbor provisions of Best Interest Duty are met.
TIQK can even flag harder-to-detect behaviours like financial planners that produce “cookie-cutter” advice across multiple clients.