Features
Trailblazer was developed by financial advisers for financial advisers, and is used by:
The app allows users to prove compliance in three core areas:
- MiFID II: This legislation places a requirement on regulated firms and their advisers to demonstrate that annual suitability assessments have been completed and clients are suitable segmented
- Ongoing servicing: RDR imposed a requirement on firms to demonstrate clients are receiving the ongoing service for which they are paying for
- CPD (Continuous Professional Development): Advisers have a requirement to complete a minimum amount of CPD each year
Penalties for non-compliance could ultimately force an adviser or firm to cease trading.
That’s where Trailblazer comes in.
It provides a convenient, multi-device (desktop, mobile and tablet), standalone system to meet these challenges, delivering high-quality management information to prove compliance and showing the action which needs to be taken.
Features
Specifically, the system:
- Allows seamless uploading of existing client data
- Enables the monitoring of periodic client reviews based on agreed service levels
- Confirms whether Annual Suitability Assessments have been carried out
- Allows advisers to set goals, record CPD activities in real-time and track their progress
- Enables advisers to easily record client interactions in real time
- Helps advisers manage their diary and client meetings
- Includes a client contact management system
- Enables group messages to be sent from the advisory firm to all users. This helps those people in authority in multi-adviser firms communicate more efficiently while being able to prove that key messages have been delivered to their teams
- Allows oversight of an adviser’s activity in all the above noted areas by their managers, compliance team or those with a Training & Competence (T&C) role. Gaps can, therefore, be quickly identified and an action plan put in place
Trailblazer was developed because no existing system solved the problems identified. For example, specialist back-office systems are desk-based, whereas the Trailbazer system works on the adviser’s phone or tablet, allowing records to be updated in rea-time. This immediacy improves both efficiency and the accuracy of data.
Trailblazer is therefore designed to complement a firm’s existing back office, not replace it.
Benefits
The key benefits of the system include:
- Being able to prove that periodic reviews and annual suitability assessments have been completed
- Access to actionable management information
- Improved delivery of ongoing service requirements by advisers
- A reduced likelihood of regulatory complaints in respect of ongoing service delivery
- Increased client retention
- More efficient and timely recording of adviser CPD allowing adviser, management and accrediting bodies to see progress towards the annual goal
- Simplified diary management
- Comprehensive recording of client interactions
- Access to actionable management information allowing those people with compliance or T&C responsibility to understand an adviser / firm’s progress in complying with MiFID II, providing the agreed ongoing service to clients and meeting with annual CPD requirement
Outcomes
Ultimately those firms who adopt the system will experience:
- Reduced compliance risks: Being able to demonstrate ongoing compliance will lessen the likelihood of regulatory enforcement action
- Higher client retention: Ensuring services are delivered as promised will lead to greater client loyalty
- Improved long-term capital value: Firms with high client retention and who can demonstrate regulatory compliance will command a higher valuation.
Trailblazer is aptly named; no other system provides the features and benefits which it does. It truly fills a gap in the market, solving a genuine problem which was identified by the founders of the system in their day to day work as financial advisers.
About
Trailblazer is a trading style of Trailblazer Tracking Limited.
Company Number: 10404576
Registered Offices
Trailblazer Tracking Ltd
35 Carlton Road
Worksop
England
S80 1PD
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