In a conversation with Professional Adviser, Jolly highlighted the challenges posed by the UK’s “manual, regulation-heavy” suitability processes, which burden paraplanners and compliance teams with repetitive tasks, thereby reducing client interaction time for advisers. He noted that generating a suitability report in the UK can take months, while the process in the US often takes just a day, primarily due to differences in regulatory implementation and technology utilization. Jolly emphasized the potential of artificial intelligence (AI) to streamline administration; however, he asserted that these tools must be supported by human compliance expertise to effectively enhance financial advisory services. This insight underscores the need for improved regulatory efficiency and technological adoption within the UK financial advice landscape, aiming to optimize advisor-client relationships and increase overall operational effectiveness.
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