A financial aggregation service claiming to herald a "revolution" in client data-gathering has launched amid a surge of FSA fines for failing to comply with the "know your client" rule.
Sammedia's Moneyinfo provides an aggregated and updated view of a client's entire financial life - from banks, credit cards, mortgages, loans and portfolio valuations - promising to transform an IFA's fact- finding process from one of "guess-finding" to a real-time set of figures. The service, says the company, allows advisers to react to changes in client circumstances and demonstrate a more accurate "know your client" process than traditional fact-finding processes relying on manual, less accurate methods. Sammedia CEO Mike Free (pictured) says it will help advisers demonstrate the...
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