Company works with firms and agencies to ensure compliance while helping advisors and agents significantly grow and better serve their client bases
New offerings assist companies as they prepare for June 30, 2020 Reg BI deadline
November 15, 2019 — SAN FRANCISCO — Hearsay Systems, the trusted leader in compliant digital communications and workflow solutions for the financial services industry, today announced the launch of a new consulting practice, Hearsay Compliance Advisory Services, to help financial services organizations adhere to all industry regulations while implementing modern technologies that enable them to efficiently attract new prospects, cultivate leads, and better serve existing clients.
The new practice is designed to ensure that every financial services organization has the right tools to meet their specific objectives in a compliant manner, particularly in light of new and evolving compliance regulations. This includes the latest Securities and Exchange Commission (SEC) rule, Regulation Best Interest (Reg BI), which goes into effect on June 30, 2020, as well as recently enacted FINRA 2210.
“As new technologies permeate the financial services industry, compliance issues become more complex. With a constant influx of new regulations and guidelines, organizations are often lost on how to expand existing programs to meet new compliance requests and when to adopt new technologies and practices,” said Donna Prlich, Chief Business Officer of Hearsay Social. “We launched Hearsay Compliance Advisory Services to help our customers easily navigate this complicated landscape by providing both technical and subject matter expertise to optimize Hearsay’s powerful data-driven, customer-centric digital solutions to customers’ ever-changing risk profiles.”
Hearsay Compliance Advisory Services provides the following offerings:
- Custom Discovery and Risk Assessment: A well-defined lexicon enables compliance program administrators to efficiently and effectively oversee advisor content. Hearsay partners with organizations to conduct a complete assessment of their lexicon, analyzing flagged content and providing recommendations to minimize false positives while improving supervision effectiveness. Hearsay also will assess customers’ compliance configuration and processes as well as implement changes to enhance the use of the Hearsay platform.
- Custom Compliance and Supervision Training: To help Hearsay Compliance Administrators increase their value, Hearsay Compliance Advisory Services has created its own certification program in compliance administration. This offering shows exactly how Hearsay Compliance for the Hearsay platform can be used to support digital marketing programs through the full client-advisor/agent life cycle. Compliance administrators take a deep product dive and learn industry best practices that will further key objectives. They also learn how to analyze data and drive efficiency and automation. Additionally, Hearsay works with customers to design and deliver a series of webinars designed to help train an organization’s Hearsay users, create awareness of new features or practices, and/or share best practices. These webinars are tailored specifically an organization’s needs, delivered by Hearsay Customer Education experts, and recorded for future use.
- Compliance Analytics and Reporting: Advisors need to engage with their clients seamlessly. As such, Hearsay partners with teams to analyze their compliance policies and supervision processes to minimize the firm’s risk while ensuring an efficient client engagement experience for advisors. Hearsay Compliances Services can also create custom compliance reports via Looker based on each individual customer’s requirements.
- Compliance Resource and Technology Optimization: As organizations evolve and policies and procedures shift, Hearsay configurations may also need to change. Hearsay Compliance Advisory Services partners with teams to reconfigure their supervision dashboard, ensuring that the review process meets the needs of the program. Hearsay will conduct analysis of Compliance Administrators’ supervision dashboard setup and provide additional guidance based on Hearsay and industry best practices. Hearsay can also update fields on advisors’ social media profiles to ensure they are in compliance, which is critical when regulations change or when an organization goes through a name change or merger and acquisition.
These offerings are customizable to meet each customer’s needs. They can be scoped as individual services or as an annual service.
“Hearsay has been at the forefront of compliance in the digital era,” said Robert Bartolomeo, Vice President of Professional Services and Customer Success at Hearsay. “Our new Compliance Advisory Services practice takes this up a level to ensure customization, meet organizations where they are, and help them get to where they need to be.”
For more details on how Hearsay Compliance Advisory Services can help your organization, please visit https://hearsaysystems.com/customers/customer-success-services/.
About Hearsay Systems
Hearsay Systems is reinventing the client experience in wealth management, property and casualty and life insurance with compliant digital communications and workflow solutions. Over 170,000 advisors and agents at the world’s largest financial services and insurance firms leverage Hearsay to engage with customers and build stronger relationships to grow their business.
With Hearsay Cloud for financial services, advisors and agents provide real-time, personalized and seamless client experiences across the right channel – social, texting and mobile – at the right moment. Automated, pre-built industry workflows for insurance and wealth management provide one-click actionable suggestions for targeted engagement. Built for the enterprise, Hearsay Systems connects data and every client interaction to corporate CRM systems and digital marketing programs – all on a secure, compliant enterprise-ready platform.
Hearsay is headquartered in Silicon Valley with locations throughout North America, Europe and Asia.
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