Financial consultancy the Lang Cat has overhauled its Analyser due diligence software.
The firm said the new functionality enables adviser subscribers to carry out due diligence and report at both market segment and individual client level to help firms meet their Consumer Duty obligations.
This improvement has been developed in partnership with advisers and paraplanners and is the latest in a continuing programme of developments including a regulatory tracker, a Consumer Duty module and a complete MPS analysis and due diligence facility.
There’s also a more intuitive look and feel with simplified navigation and additional white labelling options.
Individual client suitability reports
Lang Cat said its Analyser now enables advisers to produce individual and exportable client suitability reports.
This feature builds on the current capability for due diligence reporting at firm level and is also designed to support platform to platform switching – streamlining and evidencing the whole selection process.
The reports go beyond cost to include suitability statements on why a platform is preferred, capturing the full rationale behind the decision as well as factors like proposition and client preference.
Terry Huddart, digital director at the Lang Cat, said: “We’re constantly listening to advisers and paraplanners to get their feedback and designed Analyser’s latest version with this firmly at the front of our minds. Firms can now use their due diligence at firm level as a solid foundation to build robust individual client suitability reports – documenting the whole approach.
“We believe this will be particularly useful when it comes to platform switching, and in the Consumer Duty environment, evidencing decision making on behalf of clients to show that you’ve put their needs first.”
New look and feel
A new, intuitive dashboard can be personalised to advisers and their firms while tracking the due diligence tasks underway on the system.
Firms can now add their details and logo to the dashboard view, building on the existing option to white-label due diligence reports. Analyser has also introduced multi-factor authentication to keep client data secure and protected.
