Tower takes best practice electronic
Tower has taken its best practice guide it developed for advisers several years ago to the next stage.
Friday, November 4th 2005, 6:54AM
The new guide is now being promoted to accredited advisers as being available in an electronic version.
"The new software assists financial advisers with fact finding of clients' personal information, which then produces the analysis, reports and summaries for clients.
"The client details flow through into illustrations which may be emailed directly to Tower," Tower Health and Life chief executive Steve Boomert says.
Training manager Jeff Bailey says it is made up of a series of wizards which are used to document the advice process.
A key part of it is that the information that is entered into the system is then "dragged through" the whole process and prepopulates subsequent pages.
Tower believes this electronic best practice process it has developed is unique in Australia and New Zealand.
Tower's Peter Conroy says the system has been made with checks and balances in it. For instance an adviser can't go back and change things later in the process. All changes are documented.
"We are all only too well aware that regulation is becoming a more topical issue in New Zealand, but historically product manufacturers have distanced themselves from the advice process," Boomert said.
"We see it as our responsibility as product manufacturers to assist financial advisers in every way possible as they move towards regulation and the necessity for compliance. Our new best practice software does exactly that, with its ability to assist in information gathering and record keeping of client recommendations in a very easy-to-use and intuitive way. "
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