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March 24, 2017 at 10:49 AM
Hearsay data has found that 10% of compliance risks identified by monitoring language on social and digital platforms are actually risky. The firm’s Risk Meter uses machine learning to prioritize risks it identifies based on almost 100 million annual interactions processed on the Hearsay platform, according to a statement.
“Today, supervision teams are tasked to do more than ever before,” Mark Gilbert, chief technology officer at Hearsay, said in the statement. “Hearsay’s powerful combination of machine learning, auto-sampling and auto-remediation allows them to act on the riskiest advisor behavior quickly, while knowing they have broad coverage across their field’s activities. Teams become more productive, with deeper control and expanded coverage over advisor-client communications.”
The Intelligent Alert system can flag prohibited language, and compare it to earlier incidents that were considered violations. The platform can automatically delete posts that violate an advisor’s company policies.
The enhanced platform also features more flexible sampling tools. Users can look at a sample of content pushed out on the platform based on the type of content and whether it includes photos or links.
Also on Thursday, SS&C announced its client communications platform, Vision FI. The new platform builds on SS&C’s Varden eReportal platform to help users design, produce and distribute client communications online and in print.
SS&C introduced the platform at the Summit for Asset Management in London earlier in March.
“Investment management firms are now looking for client communication tools that offer flexibility, customization, and differentiation,” Christy Bremner, senior vice president for institutional and investment management at SS&C, said in a statement. “Vision FI is responding to this need by offering dynamic content options for client presentations. Firms can deliver this information to their clients through print, email or online via a customizable portal.”
Trust Company of America announced on Wednesday that it is integrating with MoneyGuidePro to link client account information between the two platforms.
“TCA’s integration with MoneyGuidePro emphasizes our commitment to advisors by ensuring they have the best tools available to grow their businesses,” Joshua Pace, president and CEO of Trust Company of America, said in a statement. “Our goal is to help advisors deliver superior client service by empowering them with a best-in-class financial planning resource. With this integration, advisors will have better data for planning and will save time managing accounts.”
