The FRaaS Advantage: Strengthening Advice Delivery and Client Outcomes
The launch of File Review as a Service (FRaaS), delivered through the partnership between OCG and DASH Technology Group, provides invaluable, actionable insights into the quality of advice.
FRaaS enables advice businesses to better understand the quality and compliance of their advice documentation, while offering added confidence in the capabilities and conduct of their advisers.
Why FRaaS?
It is no secret that it is highly competitive in the financial advice industry to attract and retain customers. Not to mention the ongoing compliance requirements, costs involved with onboarding, training, and the retention of quality financial advisers.
FRaaS not only supports advice providers to reduce compliance risk and maintain consistent high standards of advice but provides valuable insight into advisor performance. As a result, leaders can target key areas of improvement and training needs to uplift advice quality. drive stronger customer outcomes and support ongoing professional development.
Customer satisfaction and business generation
Improved customer satisfaction paves the way for stronger business growth and deeper client trust.
This may be achieved through repeated business with strong long-term advisor-customer relationships, positive online reviews generating further leads, word of mouth, and having a presence and reputation that attracts customers searching for a trusted advice provider.
Conclusion
FRaaS equips advice providers with the critical information required to identify strengths, unlock potential, and get the best from their advisers, ultimately enabling them to provide a higher quality of service for their customers.
By keeping their finger on the pulse of their customers’ needs through the delivery of compliant and high-quality financial advice, and considering the advisers soft skills, the learnings gained can assist in the tailoring of training programs to upskill advisers. The flow-on benefit is raising customer satisfaction levels, whilst having the assurance of knowing the advice being provided is of great quality, compliant, and meaningful to the customer.
