My Dealer Services (MDS), which provides self-licensing support for financial advisers, has introduced three new or improved services as part of its expansion strategy.
These services aim to enhance the support infrastructure for its network of more than 400 financial advisers across 110 AFSLs.
MDS has partnered with Australian fintech company Claras to offer an AI-driven software tool designed to transform recorded client interactions into detailed, accurate file notes, ensuring high standards of data security and compliance within minutes.
“Claras produces incredible file notes as well as summaries with compliance in mind within minutes,” said Alexander Euvrard, director and founder of MDS.
“The average time to produce a file note and email summary is five minutes, including time spent double-checking it.”
Further broadening its service offerings, MDS has also launched a new paraplanning and administration service in collaboration with Broker Support Global (BSG).
This service is designed to assist members in the creation of statements of advice (SOAs), leveraging BSG’s extensive overseas and local teams to ensure adherence to regulatory standards.
Additionally, MDS has rolled out the MDS Licensee Compliance Portal, a platform that provides members with a secure dashboard to stay updated on compliance dates, industry regulations, and access resources such as webinars and articles.
Euvrard said the service’s goal was to simplify the self-licensing process and reduce operational burdens.
“Our job is to go out, do the research and find the best and most innovative service providers in their field that can support our advisers,” he said.
