Practifi entered a strategic partnership with a Sydney-based regtech to help financial advisers ensure their Statements of Advice are compliant.
Advisers using the Practifi platform will now have access to TIQK, a regtech solution that combines compliance experts with objective, intelligent technology capable of reviewing every piece of advice generated.
TIQK chief executive Steve Thomson said he is delighted to have partnered with a group that shares the regtech's vision for ensuring advice is both compliant and in the best interests of clients.
"A component of this partnership will be the development of an integration that allows Practifi users to have the power to seamlessly audit Statements of Advice at their fingertips," he added.
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In addition, the integration will make TIQK's data insights available to Practifi users, presenting a cohesive view of the practice and advice provided.
"We're excited to welcome TIQK into our rapidly growing partner ecosystem. The combination of Practifi's business management capabilities and TIQK's auditing tools significantly reduces the burden of compliance for advisers and licensees," Practifi chief commercial officer Adrian Johnstone said.
"This partnership makes proactive compliance management a reality."
Earlier this year Practifi also partnered with Midwinter and received funding to launch in the US.
After winning its first US client earlier this year, the firm will establish an office in Chicago to build new products and expand its client base.