TIQK integrates with IRESS Xplan
Today TIQK are introducing an integration with Iress Xplan that makes it simpler for financial services businesses to scale their compliance and risk monitoring across all written financial advice.
Iress Xplan is the financial services industry’s leading advice software. TIQK is the market-leading solution for compliance and risk monitoring of written personal financial advice.
Enhancing SoA file audits with Xplan data is one of the most-requested features by their clients.
With this new integration between Xplan and TIQK, they’ve made it possible to automatically validate that the client’s information in a Statement of Advice (SoA) file matches that recorded in Xplan during the “fact find”.
The “fact find” is when a Financial Adviser records their client’s income, assets, liabilities, goals, objectives, and more. This forms the basis of the Adviser’s recommendations.
If the final SoA file is inconsistent with the fact find data, there is a risk of non-compliance and potential consequences.
Until now, experts have had to manually cross-check data in Xplan against each SoA file − a time consuming, expensive process that’s nearly impossible to scale.
By integrating TIQK’s sophisticated file auditing with Iress Xplan they’ve made it possible to automate this task. This enables financial services businesses to cost-effectively scale their compliance and risk monitoring program across all written advice.