Compliance Management

What Role Does Financial Play in Compliance Management?

Financial DNA subscription packages and the Financial DNA API measures over 200+ behavioral insights covering virtually every human habit: the way a person communicates, invests, works, and lives. These insights power the advice process and play a crucial role in compliance management.

When Financial Services teams start using Financial DNA, the first step is for each of their employees to measure their own unique DNA styles. Financial DNA is built on a scalable technology platform that measures all aspects of an individual’s behavioral style – transformative insights and reports are available for compliance teams without any additional data gathering.

Coaches and Consultants in the DNA Coach Network have vast experience helping financial services firms apply behavioral insights to compliance processes to reduce risk, improve reporting, and mitigate rogue employees. Schedule a free consultation to discuss your compliance needs and how behavioral insights may help you.

Schedule a Free Consultation:

Meet with one of our experts to identify your compliance needs, or discuss how we can work with your business, schedule a 15-minute call with us.

Our compliance archiving API allows your firm to archive all client communications and reports. 

Financial Behavior Report in iPad, tilted right

Know Your Client (KYC) Compliance Management

Accurately determining a client’s risk behaviors is critical for long-term financial planning success and Finra Rule 2111 compliance. Financial DNA reports provide a step-by-step approach to determining the risk behavior of clients, couples, and advisors.

Financial DNA Risk Normal Distribution Curve

Mitigate Advisor Client Bias

Just like the adage, “birds of a feather flock together,” or people of the same traits will connect more easily, advisors are better suited to working with clients who are similar to themselves. This also means, there are advisors that are not suited to work with certain clients. Financial DNA has an insight into this which powers the compliance management process.

For years, advice firms have used Financial DNA to help advisors find and keep clients. Firms leverage out-of-the-box Financial DNA reports included in our subscription packages or the algorithms in the DNA API to find the best staff member to service their clients to create lasting connections and boost engagement.

New clients are directed to work with specific advice team members based on behavioral suitability. Behavioral suitability can be customized for your firm and based on communication style, behavioral biases, risk behaviors (or all three!).

Advisor Client Matching_Using Financial DNA