Advisers and their compliance teams are spending too long producing suitability reports that could be completed in days with the right combination of technology and regulatory expertise, according to Saturn co-founder Amal Jolly.
Speaking to Professional Adviser, Jolly said the UK's "manual, regulation-heavy" suitability processes are tying up paraplanners and compliance teams in low-value, repetitive tasks and limiting the time advisers spend with clients. "In the UK, it can take months to produce a suitability report. In the US, it can be done in a day. The difference is largely down to how regulation is implemented and how technology is used," he said. Jolly argued that while artificial intelligence (AI) can help speed up administration, tools must be backed by human compliance expertise to deliver Financia...
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