Banner Default Image
< Back to all insights

Comentis partners with intelliflo to support advisers in the assessment of financial vulnerability

Author: Georgia Richardson

Published date: 2021/07


​Following its May launch, clinical tech provider, Comentis, has today announced its partnership with intelliflo, a leader in financial advice technology. intelliflo’s practice management solution, intelliflo office, is the first to integrate with a financial vulnerability assessment platform to support a growing number of advisers in the identification of financial vulnerability. Advisers who are customers of intelliflo will have immediate access to Comentis’ software via the intelliflo store from today.


Comentis’ one-of-a-kind software – the Cognitive Assessment Engine (CAE) – combines cutting-edge technology with the clinical expertise of renowned mental health and psychology specialists to provide objective and consistent vulnerability assessments to financial services firms. The CAE is the first product in the financial advice market to combine digital and clinical expertise to produce an accessible and cost-effective platform, which can be integrated seamlessly with advisers’ existing technology and processes. Comentis’ platform will also provide users with a clear and consistent audit trail, while driving objectivity and consistency across the vulnerability assessment process.


Regulatory pressure is mounting in this area, following the FCA’s recent publication of guidance for advice firms on the fair treatment of vulnerable customers. Within this, the regulator estimated up to 24m UK adults could be currently defined as vulnerable, meaning financial advisers will need to have the necessary processes and protocols in place to support these customers accordingly and adequately.


Jonathan Barrett, Co-Founder & CEO of Comentis, comments: “We’re really excited about partnering with intelliflo and what it means for advice firms. intelliflo is taking the lead in providing advisers with the tools that will better enable them to identify client vulnerability, which is why today’s partnership is a milestone for the financial services industry. Advisers can’t wear all hats - it’s a demanding job, particularly now with the added complexity of the pandemic and a spike in the number of individuals needing additional support to manage their finances. However, clinically-based tech like Comentis’ will be the balm for some of the pain points experienced by this community when it comes to assessing potentially financially vulnerable clients.”


“With intelliflo’s technology solutions and Comentis’ market-leading software, advice firms will be able to better identify financially vulnerable clients, easily, objectively and consistently.”


Nick Eatock, CEO of intelliflo, comments:


“For many individuals, last year took its toll on finances and a significant number of people entered 2021 with a depleted bank balance and in different financial circumstances to the year prior. This will entail more customers seeking financial advice and an increase in potentially vulnerable customers struggling to manage debt, particularly once government initiatives fizzle out.”


“Financial advisers will need all the support they can get to manage workloads, and Comentis’ Cognitive Assessment Engine will help advisers with the added challenge of assessing vulnerability and mental capacity. The combination of cutting-edge SaaS tech with clinical knowledge is a first of its kind and will ensure at-risk customers are supported.”