FOR ADVISERS & PARAPLANNERS

Proactive & collaborative risk management

TIQK provides objective and immediate feedback to catch inconsistencies, omissions, or errors in financial advice files before they can reach clients.

How does it work?

Using advanced Natural Language Processing (NLP), expert systems, and artificial intelligence, TIQK extracts data and meaning from every advice file.

In just seconds it forms a holistic view of the clients, the adviser, and the advice provided – all in the context of the legislation, regulatory guidance, and business policies in effect when the advice was produced.

A standardised approach to test risk consistently across all advice

With over 1,000 tests for advice quality review, TIQK provides an in-depth analysis of the risks important to licensees for audit and risk identification.

The extensive library of industry-standard regulatory tests cover:

  • Required disclosures
  • Product replacement
  • Vertical integration
  • Consistency of goals, scope, and recommendations
  • Common Key Risk Indicators (KRIs) such as asset allocation, product replacement, and fees

TIQK also supports custom tests for licensee-specific risks and conditions such as:

  • The application of licensee standards
  • Thematic and historical obligations

And TIQK offers comprehensive data analytics to assess risks and themes at an adviser, practice, and licensee level.

Clear, specific, and immediately actionable outcomes

The review report makes it easy to focus on risks by intelligently linking client profiles to the whatwhere, and why of each result.

Invite team members and set user permissions to organise and protect your data. Use inline comments and the internal review workflow to collaborate with advisers during file reviews.

And it’s easy to download the report in PDF format to share, save, and review offline.

“In order to improve risk-management and minimise your compliance risks, you must include the capacity to explore, test, and implement ‘compliance-by-design’ reg-tech solutions within your business model.”

Daniel Crennan QC – Deputy Chair, ASIC 2019

Manage demand effectively

It’s not always possible to maintain a monitoring team to match variable or seasonal activity: they either sit under-utilised, or create bottlenecks when activity spikes.

TIQK forms the first line of defence by performing a broad yet detailed review of volumes of advice – quickly and at the point of sale – to complement your review team’s strengths.

Chart by Visualizer

High checklist alignment

TIQK aligns with up to 76% of Licensee Audit Checklists, as applied by pre-vet

76

Checklist coverage

Client site post-implementation reviews, 2019, 2020

Proven process improvement

TIQK has been proven to reduce the pre-vet human audit time-to-outcome to 2 minutes on average, and accurately deliver 87% of all SoAs to pre-vet – an increase of 47% compared to before TIQK was used

Chart by Visualizer

“By implementing TIQK we augmented our risk management processes and were able to increase the number of advice documents analysed by 380%.

This allowed us to transition from reactive, to proactive, risk management and compliance.”

Matthew Farley, Managing Director, MyPlanner

Adapts to your standards

Out-of-the-box TIQK reviews essential legislative, regulatory, and best practice risk indicators.

However we understand that our clients want to include their own standards, practices, and methodologies.

That’s why we offer two powerful ways to extend TIQK reviews:

Tests for your business policies

Our analysts work with you to quickly design, test, and deploy Custom Business Tests that run automatically with every file review.

These include licensee-specific risks and conditions such as:

  • The application of licensee standards
  • Thematic and historical obligations

A.I. trained to your standards

TIQK can automate even more by adding custom artificial intelligence (A.I.) assessments that  replicate your own team’s expertise and methodologies.

Our team can collaborate with your in-house analysts to train, test, and refine artificial intelligence models for use in every review.

Integrate & automate

Integrate TIQK into the advice generation and CRM platforms and workflows that you use every day for seamless, end-to-end risk management.

Discover how

Secure by design

Your data remains on-shore and encrypted at all times, protected by multiple security technologies and secure engineering practices.

We understand that your Custom Business Rules and A.I. models are private. TIQK never shares or merges them with any other client.

This means your data and intellectual property are always protected, and your advice reviews are always accurate.

For organisations with extended security protocols we offer the option of isolated cloud data storage and processing.

Learn more