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MorganAsh introduces upgrades to vulnerability platform

  • 28/11/2023
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MorganAsh introduces upgrades to vulnerability platform
MorganAsh has unveiled a range of upgrades to its consumer vulnerability assessment platform.

The new MorganAsh Resilience System (MARS) includes a new interface and redesign of the main case page, with the firm suggesting that the improvements make it easier to navigate and toggle between key information. 

In addition, the vulnerability assessment has been upgraded, providing more options on what to ask in the questionnaire and what areas to assess. For example advisers can determine whether to include questions about obsessive or compulsive behaviours, as well as abusive or controlling relationships.

These now run alongside the existing questions on financial assessments, protected characteristics, identity issues, wills and power of attorney. Users are able to keep these as defaults, or opt to select them on a case-by-case basis.

The new MARS also includes upgrades to the reporting page, delivering more detailed reports covering information such as demographics and protected characteristics, such as age, gender and sexual orientation. The firm said this will help users meet the requirements of both the Equalities Act and Consumer Duty.

Andrew Gething (pictured), managing director of MorganAsh, said the system had been designed to help simplify the “onerous task” of assessing, monitoring and reporting on consumer vulnerability, and noted that the firm was continuing to use feedback in order to improve the platform.

He continued: “This latest round of upgrades marks another step forward, improving functionality and configurability, all while adding greater granularity to both assessments and reporting. 

“The FCA is now actively encouraging firms to consider its annual board reports as this, and the management information that sits behind it, will be key for the regulator to assess a firm’s compliance. Rather than a mad scramble or a shot in the dark, MARS users will have this vital intelligence at their fingertips.”

Research from the firm has previously discovered that almost half of high net worth clients display signs of potential vulnerability

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