MA Operator’s new tool that produces records of advice (ROA) in a matter of seconds, rather than half an hour, is already resonating well with advisers as it removes significant costs for businesses and increases the accuracy of advice.
The firm’s closest published competitor is only able to produce ROAs in 30 minutes, which was announced in 2016 and, at the time, was a significant reduction from the still widely used overnight process.
MA Operator co-founder Shannon Bernasconi said: “We worked with our adviser clients on their requirements for the ROA process.
“Each practice can have their own ROA templates, look and feel, and change the commentary on demand.
“Our technology reduces effort, increases accuracy and timeliness of the individualised ROA and ensures the client’s response and interests remain integral to the process.”
ROAs were legally required to advise clients of changes in their portfolio, thus delays in production and client agreement added risk as markets could change significantly between the time of advice and implementation, MA Operator said.
Frontier Financial Group adviser Steven Woodford told selfmanagedsuper: “SMSFs want the transparency and control of directly held assets.
“Using a model-based allocation in a managed account streamlines the investment process across multiple clients.
“This, along with the automated ROA and electronic signing MA Operator provides, enables the adviser to more easily and efficiently continue to offer this directly held asset service to SMSFs, removing the burden of manual processing and risks inherent therein.”
In August last year, MA Operator was added to the Class stable to help advisers deliver more efficient and sophisticated advice via its rebalancing, analytics and automated ROA generation features.
MA Operator was launched in July 2016.
The managed account technology business for independent advisers provides direct, beneficially held portfolios of assets to clients and advice on managed discretionary accounts (MDA) for advisers, as well as services for existing managed account and MDA operators looking to optimise their efficiency and scalability.
