Platform provider HUB24 has released a whitepaper detailing the need for advice industry participants to collaborate and use standardised data tools to record processes and information, which it says is key to overcoming what licensees see as a dearth of “quality” data.
The paper, released this week, outlines how difficult it is for licensees to monitor what is happening in their advice practices when advisers “label and store documents their own way”.
“Moreover, much of the data held is unstructured and not visible, contained in emails and PDFs of SoAs, RoAs and FDSs,” the paper continues.