The iFactFind platform has revolutionised the way financial advisers and firms handle document generation, enabling them to produce various essential documents with just a few clicks. This innovative feature is designed to streamline the process, enhance accuracy, and save considerable time.
iFactFind's Document Generation function allows users to easily create a range of documents by utilising an extensive list of placeholders linked to their text. Whether it’s generating Third-Party Authorities or custom documents, the platform facilitates seamless creation in formats such as MS Word or PDF. Advisers can build and edit these documents, establish their own document library, and utilise thousands of API fields that iFactFind has made available, ensuring that every document is precisely tailored to the client's needs and regulatory requirements.
A standout feature is the recently introduced Engagement Letter, which includes comprehensive details like Scoping, services offered, fee structures (both initial and ongoing), and client consents. This document is generated within seconds and can be e-signed directly on the platform, thanks to the built-in e-Signature feature, which is already accepted by major licensees. The ability to produce consent forms for various purposes—such as acknowledging the delivery of the Financial Services Guide (FSG) and Privacy Policy, consenting to the storage and use of personal information, and authorising the sending of information overseas—is another significant advantage, enhancing compliance and client engagement.
The platform also enables the generation of detailed Fact Find outputs and digital snapshots, standalone Risk Profiles, and Portfolio Preferences documents. This ensures that all client information is thoroughly documented and easily accessible, facilitating a better understanding of the client's financial situation and preferences.
Users can generate Third-Party Authority documents required for dealings with other financial institutions or service providers. Additionally, the Pre-Assessment Questionnaire, which is vital for insurance providers, can be readily sent out, streamlining the preliminary assessment process.
iFactFind supports the digital signing and acknowledgment of various consents required in the financial Advisery process, such as those for storing sensitive information like Tax File Numbers (TFN), Director’s IDs, HIN/SRN numbers, and Centrelink Reference Numbers (CRN). This feature not only ensures compliance with regulatory standards but also secures client trust by maintaining high standards of data privacy and security.
Looking ahead, iFactFind plans to introduce an AI-assisted Statement of Advice (SoA) generator that will provide strategies and recommendations, dramatically reducing the time spent on these activities from days to mere hours.
In conclusion, iFactFind's Document Generation capability is transforming the administrative landscape for financial advisers, enabling them to manage documentation more efficiently and effectively. By reducing the manual workload and automating complex processes, iFactFind is setting a new standard in the financial services industry, allowing advisers to focus more on client service and less on paperwork.
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