Reduce errors and improve compliance

Why accuracy is non-negotiable for SA advisers

The Financial Sector Conduct Authority (FSCA) penalised 127 advisers in 2023 for administrative errors, from incorrect client records to late submissions. Mistakes hurt your reputation and wallet. Automation isn’t just about speed; it’s about protecting your practice.

Common pitfalls in manual processes

• Typo in a policy number → Delays claims by weeks.
• Miscalculated retirement fund values → Leads to non-compliant advice.
• Overlooked client risk profile updates → Violates Treating Customers Fairly (TCF) principles.

How AI tools enforce precision

The Molo Practice Assistant acts as a safety net:
🔹 Auto-validation → Flags incomplete/illogical entries (e.g., a 25-year-old claiming dementia benefits).
🔹 FSCA rule updates → Alerts you to new disclosure requirements.
🔹 Audit trails → Keeps timestamped records of all client interactions.

Case study:
A Cape Town adviser avoided an FSCA fine by using Molo’s health questionnaire tool, which caught a client’s undisclosed high-blood pressure before submitting to insurers.

Compliance wins you business

• Banks and product providers prioritise advisers with clean compliance records.
• Errors trigger costly PI insurance claims—automation reduces your risk profile.

Action step: Try the compliance checker

Upload a recent client file to Molo’s compliance scanner and see what risks it detects. (Coming soon)