The financial sector faces a number of pressing challenges. While the industry is looking to regain trust and comply with new regulations, the current global pandemic has impacted how Financial Advisers work and engage with clients. Luckily, technology offers opportunities to deal with these challenges, making it easier for advisers to comply with industry regulations, work with their clients and streamline their business model.

In a move to help more financial firms scale their operations for success, Umlaut has partnered with IOOF to provide AFSL approved solutions for document and workflow management. This partnership gives Authorised Representatives of IOOF access to Umlaut’s range of document and data solutions without having to seek individual approval, saving time and money.

Helping financial firms succeed

Our mission at Umlaut is to help Financial Advisers grow by providing solutions to help control the vast amount of client data they hold. The Umlaut solution improves the way an advice business collects, manages and stores data – saving the Financial Adviser from time-consuming admin tasks whilst ensuring the integrity of the client data is retained in a safe and secure online environment.

AFSL approved solutions

Umlaut offers a range of AFSL approved solutions including Connect, Migrate and digital conversion services. For Authorised Representatives of IOOF, our recent partnership gives their Financial Advisers access to a system for better client record keeping.

Connect

Our custom document management system easily and securely integrates client files. Replace different platforms with a single secure solution, making it simple to find information, work remotely and ensure ongoing compliance.

Migrate

Free up office space and cancel the offsite storage facility – Migrate will convert paper records to digital files. We take paper records and hard drives and convert them to digital files then match them to the corresponding Xplan client folders. This keeps all relevant client records in the one place, adhering to any prescribed naming conventions and flagging potential compliance issues.

Digital solutions delivering real benefits

True to our mission, Umlaut’s range of AFSL approved solutions delivers real benefits to Authorised Representatives of IOOF.

Simplify compliance

A digital record keeping system means client files can be easily accessed when required, straight from an adviser’s desktop – or their support staff.

Reduce costs

Reduce manual entry and limit transcription errors by syncing client data with Xplan. No matter what office environment a Financial Adviser is working from, our digital solution will automate documents and workflows, review and edit documents and easily request client signatures which saves individual time and effort – and is convenient for the end client.

Increase revenue

Access to all data from one primary portal helps Financial Advisers see the big picture and scale for the future. Our systems can run custom reports to review business operations, address issues and identify new business opportunities.

Unlock potential

If you are a Financial Adviser with an IOOF aligned AFSL and want to learn more about the benefits to your business if you engage Umlaut for your client record keeping tasks, contact us for more information and to book a demo of our system.

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