MA Operator releases new ROA tool

Australian fintech company MA Operator has announced the launch of a new tool for advisers that reduces the time required to issue a record of advice.

MA Operator releases new ROA tool

Killian Plastow

Last Updated: 01 February 2017 Published: 01 February 2017

The new tool will allow advisers to produce records of advice (ROAs) in seconds, which the company said improves on currently available ROA tools that take at least 30 minutes to issue the documents.

MA Operator said the increased speed will minimise risks to clients by reducing the time between production of the document and implementation.

"ROAs are legally required to advise clients of changes in their portfolios," the company said.

"Delays in production and client agreement add risk as markets can change significantly between the time of advice and implementation."

Frontier Financial Group chief executive Richard McLean said the new tool removed "days of effort" and reduced costs.

"More importantly, the clients are provided electronic signing of their ROAs, reducing the market lag and increasing the accuracy of the advice, as well as providing a full audit of the client communication and their digital response," he said.