![]() ![]() Fintechs will get access to Morningstar Portfolio Analysis APIs covering asset allocation, geographic breakdowns, sector breakdowns, ESG metrics, risk scores, goal analysis and costs.įirms will be recognised as ‘Tech Sprint Innovators’ in PIMFA WealthTech communications, and get the chance to showcase their solutions to the industry at various industry events and briefings. The PIMFA challenge is inviting fintechs to come up with technological solutions for wealth managers to navigate these rules and help their clients. Results of a recent review of firms’ fair value assessment frameworks by the watchdog found that some firms are falling behind in their preparation and failing to address a shortfall in their technology resources. The consumer understanding outcome rules retain the obligation for wealth management firms to communicate information in a way which is clear, fair and not misleading.Įarlier this week the Financial Conduct Authority pledged to take "robust action" agains firms which failed to meet their obligations under the new regime. The first Tech Sprint will examine how customer focused technology can be best deployed to support the needs of wealth managers within the requirements of Consumer Duty. Morningstar and PIMFA WealthTech are collaborating on a series of ‘Tech Sprints’ which have been designed to address common issues within the wealth management sector where technology could offer the most effective solution. ![]()
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