In the second of a new series of regular columns reviewing adviser software and systems, Adam Higgs says a practice management system with accurate data that is used correctly by all staff can provide huge efficiencies
Today's world is run by data and the financial advice sector is no different. Regulatory changes such as the Retail Distribution Review (RDR) and, more recently, the General Data Protection Regulation (GDPR) have meant having accurate, secure, easily accessible and reportable data is essential. The ability to draw on one single source of the truth with regard to data is vital and a practice management system is the ideal software to hold this. As I explained last month, if the one ‘single source of the truth' is held within the practice management system, it is vital for this system to b...
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