COMPLIANCE AND THE INCONTROL™ SOFTWARE
Massively boost your sale values and meet the rigors of coming compliance in one easy step
Like it or not, compliance is becoming a reality in New Zealand. Financial Advisers and corporations can either let this continue to hang over their heads or take preemptive action now by making a start towards getting their business processes compliant, and, enjoy the considerable fruits of doing so.
Compliance is something to be embraced for those advisers and corporations who are well prepared. Its aim is to enhance consumer knowledge and drive up the quality of consumer advice which has to be good for both consumers and the financial services sector alike. In Australia, those that had done the hard work and were ready when compliance struck enjoyed a significant two to three year competitive advantage over those that had not. Conversely, for many who were not prepared, compliance sounded the death knell of their business and livelihood. Indeed, the adviser force reduced from some 16,000 to 4,500 advisers post compliance!
While it is anticipated at this stage that the coming regime may not be as arduous as that in Australia, it will demand a more exacting Duty of Care on the part of those delivering financial services. This will almost certainly include greater adviser accountability, transparency, disclosure, robust advice and sales processes and regular client reviews.
The solution:
A point-of-sale solution has been developed in collaboration between RMS Software Ltd, ING Life and PIS Holdings Pty Ltd in Australia, in support of advisers wanting to get the compliance of their sales processes out of the way now and increase the quality of their advice and the value of their sales.
The solution consists of a Business Owners Insurance Needs Analysis Report Writer and Private Insurance Needs Analysis Report Writer. Both products are software and paper based says CEO of RMS Software Ltd Chris Louisson. Software is great because it facilitates a super-quick, thorough needs analysis and instantaneous report production that is comprehensive, consistent, needs-based and compliant to international standards. It is also good for advisers wanting to migrate to paperless systems.
However, we recognise that not all advisers are computer savvy and comfortable using a laptop in front of clients. For these advisers we have developed a full paper-based solution. Chris explains; simply complete the paper questionnaire and hand it over to your support staff to input and generate a client-report in a jiffy
Either way, this package is user-friendly and a real boon for advisers.
Chris explains that the collaboration between PIS Australia, ING Life and RMS Software ensures that the software and client reports comply with the most stringent compliance standards such as seen in Australia while meeting local conditions here in New Zealand.
Here's what some advisers using the software have to say:
"The software does everything we expected it to do and more! It's showing immediate results; saving lots of time collecting and collating client data and preparing our advice. It's also significantly increased the value of our sales!"
George Friedlander of Otago Financial Management;
"Wow - I'm a convert! I love it! This client report would have taken me #*%@//* hours to put together without the software! All I have to do is plug in the data and pow... out comes the most fantastic client report! I just wish I had discovered it sooner..."
Maryanne Pratt - PIS Manawatu;
ING Life too is reporting significant success using the InControl™ software. Their Locum advisers (most of whom are new to financial services) have an average case size over twice that of the national average and their closure rates are high too!!! The comprehensive nature of the client report has also preserved business that's come under review from other advisers not using the software!
OUR OFFER:
On offer for a limited time is the opportunity to experience this solution firsthand and evaluate it for yourself - free of charge.
The offer includes:
