WH Ireland adopts MorganAsh Resilience System to enhance Consumer Duty reporting

Wealth management firm WH Ireland has chosen the MorganAsh Resilience System (MARS) to enhance its Consumer Duty reporting and customer vulnerability support.

WH Ireland said the system would provide it with the structured data required to monitor and assess its compliance with its Consumer Duty obligations, and give relationship managers additional tools for identifying vulnerable clients more consistently.

MARS aims to offer a streamlined approach to managing Consumer Duty objectives with a standardised ‘resilience rating’, which is tracked over time, flags deterioration requiring proactive intervention, and produces the segmented management information needed for annual Consumer Duty board reporting.

This will be available across the whole client book, generating management information that is auditable by regulators and reportable to the board.

MARS will be integrated into WH Ireland’s adviser workflows to support clients’ onboarding, periodic reviews, and trigger events.

WH Ireland head of advice quality and competence, Steve Hutchings, said Consumer Duty was not a box-ticking exercise, and it required firms to understanding which of their clients may be vulnerable and evidence how they have responded.

“MARS gives our advisers the additional structure needed to have those conversations properly, and gives our compliance and senior management teams further resources needed to demonstrate we are delivering good outcomes at scale,” he added.

MorganAsh managing director, Andrew Gething, commented: “Firms often tell us they want to do the right thing by vulnerable clients – but without good data, they simply can’t know whether they are succeeding.

“MARS gives wealth managers a defensible, scalable way to capture vulnerability information, act on it promptly and report on it clearly.

“WH Ireland’s adoption demonstrates exactly the kind of commitment to data quality that Consumer Duty demands.”

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