Applied Systems Europe has announced an expanded partnership with Bravo Networks to enhance support for client money management for brokers using the Applied Epic system.
This collaboration, Applied Systems says, has led to major architectural enhancements in the broker management system, introducing new reporting functions and compliance assurances.
These improvements aim to aid Bravo Networks in assisting brokers with their Financial Conduct Authority (FCA) compliance responsibilities, including the promotion of cost efficiency and scalability.
Applied Systems highlights client money management as a critical area, highly regulated and specialised, involving services such as completion of client money bank reconciliations and insurer payments.
Brokers affiliated with Applied Epic can now collaborate directly with Bravo Networks to establish their client money functions, which include managing external audits and obtaining relief from bank charges on business client money accounts, among other benefits.
Scott Bennett, Managing Director of Bravo Networks, highlighted the benefits of the expanded partnership.
“As we have a growing number of Epic brokers in our network, we are pleased to add Applied Epic to the list of systems we can support for client money functions so our team can help them navigate the regulatory landscape in an easy and cost-effective manner,” he said.
Tom Needs, chief executive officer of Applied Systems Europe, also expressed enthusiasm about the partnership's potential to improve brokerage operations.
“Brokers are focused on providing the best advisory services to their clients, so leveraging the Bravo Networks allows them to extend their teams’ capabilities and reduce the time and expense of handling client money. We are thrilled to partner with Bravo Networks, enabling Epic brokers within the network to spend their time and energy where it matters most each day,” Needs said.
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