The financial services platform additiv DFS now supports “Simplified Advice” in accordance with FCA guidance for restricted advice. Retail clients may receive guidance on specific needs without an analysis of their circumstances that are not directly relevant to those needs.
This is a major step forward in bringing best-of-breed investment intelligence to UK-based investors. Thanks to additiv’s digital banking platform, legal risks are reduced to a minimum as the process of serving clients is rule based and fully audited. Meaning Investment advisers can now serve the retail segment in a very cost effective manner.
“UK-based financial institutions have so far been held back from realising the massive potential of the retail market. Our platform gives them the assurance that legal risks are properly managed and even small clients can be served profitably. We will soon be announcing the first go live in the field of simplified advise with a major market player. Using our in-depth knowledge of the UK market and financial services we will support more UK-based institutions in the areas of private banking, retail banking, asset management and insurance.”
Oliver Steeg, Head Private Banking