GW Financial Solutions adopts MARS to support vulnerable debt clients
The integration means MARS now collects structured vulnerability data for the whole client base.
GW Financial Solutions has adopted the MorganAsh Resilience System (MARS) to help its advisers support vulnerable clients faster and in a more consistent way.
The Stockport-based debt advice firm completed a successful trial before integrating MARS into its customer relationship management (CRM) system using the MARS API.
This lets the two systems exchange information securely and means the client’s details are taken at first contact, generating an automatic Resilience Rating and immediate support recommendation for the adviser.
The integration means MARS now collects structured vulnerability data for the whole client base.
This helps GW Financial Solutions report on vulnerability, track changes in client resilience and provide the management information the Financial Conduct Authority (FCA) expects.
Data from MARS showed 99% of debt advice clients were in vulnerable circumstances.
GW Financial Solutions wanted to improve its approach so it could keep up with demand, support advisers in a consistent way and produce the management information needed for Consumer Duty.
Andrew Gething (pictured), managing director of MorganAsh, said: “The debt advice sector has the highest concentration of vulnerable clients in financial services, and GW Financial Solutions has long understood that.
“MARS delivers the ability to handle vulnerability characteristics consistently and efficiently across every client contact – good information for clients, instant guidance for advisers, and clean data for reporting.
“We’re delighted to be deepening our presence in the debt advice sector with a firm that shares the same commitment to getting customer vulnerability management right.”
Adam White, director of GW Financial Solutions, said: “Ensuring we support our vulnerable customers is always a priority for us.
“MARS provides additional support to our agents, enabling them to respond to our clients effectively, consistently, and at scale.
“Support recommendations are delivered as part of the normal conversation, so advisers know exactly what action to take.”
White added: “MARS has also provided additional data insights, enabling enhanced management information (MI) to support our Consumer Duty reporting.”
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