In Partnership selects Comentis to better assess financial vulnerability
Meeting new Consumer Duty requirements
Fully aligned to the FCA’s four drivers of vulnerability, the Comentis system is an assessment that enables advisers to successfully identify vulnerable client characteristics. It combines cutting-edge technology with the clinical expertise, which is seamlessly integrated into advisers’ existing technology and ongoing processes.
In Partnership’s advisers will benefit from a clear and defined audit trail, together with consistency across the vulnerability assessment process. Thus, ensuring In Partnership advisers adopt good practice when it comes to identifying and supporting their vulnerable clients.Clinical reg tech provider, Comentis, has today announced an agreement with In Partnership, a leading network of financial and mortgage advisers.
In Partnership will implement Comentis’ clinically developed Financial Vulnerability Assessment tool across its network of 500 advisers, introducing it for all In Partnership advisers as part of the Know Your Customer (KYC) compliance process.
Jonathan Barrett, CEO and Co-Founder at Comentis, said:
“Vulnerability is high on the regulatory agenda right now, and rightly so. With Consumer Duty upon us, it’s more important than ever for advisers to be equipped to identify any, and indeed, all signs of vulnerability. Our market-leading software will ensure that all In Partnership advisers are able to better identify their financially vulnerable clients. This will be a significant step forward in delivering the good outcomes that clients deserve.”
Gordon McNeill, Group Compliance Director at In Partnership, comments:
“We know that Consumer Duty emphasises the importance of identifying and supporting vulnerable customers, but we also know that many advisers are still – understandably – struggling with this incredibly complex process. Moving forward, financial advisers will need all the support they can get, which is why we are deploying this tool to both networks of our group, The On-Line partnership Limited and The Whitechurch Network Limited. Comentis’ combination of cutting-edge technology, developed with clinical knowledge, will be invaluable to ensuring all at-risk customers are identified and supported correctly.”
About Comentis
Comentis is a clinical reg tech provider. Comentis was established in 2021 when its co-founders noticed a gap in the financial and legal services markets for digital tools to assess customer financial vulnerability and mental capacity. Its approach uniquely combines clinical and fintech expertise to deliver a SaaS Cognitive Assessment Engine which can identify at-risk customers across financial, legal and care sectors. Comentis aims to protect and support the vulnerable who would otherwise go unidentified or undetected. Its cost effective and inclusive technology has allowed clients such as Sense Network and St. James’s Place to proactively identify at-risk customers and then refine their outreach accordingly. For more information, please visit: https://www.comentis.co.uk/