App launches to help advisers with compliance

App launches to help advisers with compliance

An app has been launched to help financial advisers and networks comply with regulation and improve client services.

Trailblazer Tracking, initially created by a group of financial advisers to help their business, is now being made available to the wider adviser community.

Through the app, advisers and networks prove compliance with Mifid II and demonstrate CPD requirements are being met.

It also allows firms to demonstrate they are providing an ongoing service to clients.

Nigel Ruff, managing director of Trailblazer Tracking, said: "Like many great businesses the inspiration for the app came after identifying a need in our own business.

"We put a team together with the technical skillsets we needed and built the system. Once we had proved the concept the natural next step was to offer the product to others.

"Traditional back-office systems are desk-based, whereas Trailblazer is designed to be used on the move and complement, not replace an adviser’s back-office system.

"Its great benefit is that it allows data to be recorded in a timely way. No longer does the adviser have to remember to record their CPD when they get back to the office or log a client call or meeting when they return, they can simply update Trailblazer through the app. This immediacy improves both efficiency and the accuracy of data."

Trailblazer Tracking was founded in 2016 by Nigel Ruff, Marcus Horne, Peter Greaves, Gregg Bartram, later joined by Martin Hibbert.

The app can be used on a desktop, phone or tablet and is being offered to advisers at an introductory price of £50 a month. Following this, the full cost is £79 a month.

According to Mr Ruff the system is particularly useful for networks or larger firms with multiple advisers where spans of control are often wide, and the advisers spread over a significant geographical area.

He added: "Crucially, Trailblazer also allows oversight of an adviser’s activity by their managers, compliance or those with a training and competence role. Gaps can, therefore, be quickly identified and an action plan put in place.

"This has huge benefits for users, not only proving regulatory compliance, helping aid client retention and reducing the risk of complaints. We firmly believe it will also increase the long-term value of an adviser’s business."

Jayne Gibson, financial planner at InsightOut, said: "Trailblazer provides us with a strong client management system that allows us to deliver high-quality services to our clients. The system has been designed by financial advisers for financial advisers and it shows.

"The mobile app allows us to keep on track even when we are on the move.  In a busy environment with constantly changing parameters, it allows me to have control of client contact and plan not just daily but monthly tasks."