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MARS helps firms manage vulnerable consumers (3:45)

A secure, easy-to-use vulnerability management system to aid compliance with the FCA’s vulnerability requirements.

For those in financial services, understanding consumers’ vulnerability is both an opportunity and a challenge. It’s an opportunity that’s seized and challenge met with the MorganAsh Resilience System – MARS.

We want vulnerable consumers to experience outcomes as good as those for other consumers and receive consistently fair treatment across the firms and sectors we regulate. We expect firms to provide their customers with a level of care that is appropriate given the characteristics of the customers themselves.

– The FCA’s ‘Guidance for firms on the fair treatment of vulnerable customers’

A comprehensive system for managing consumer vulnerability

There is an increasing need for vulnerable customers to be recognised and recorded by financial services. The MorganAsh Resilience System – MARS – is an easy-to-use, online system that enables organisations to accurately assess consumers’ vulnerability in a consistent, structured way. It helps organisations meet, and demonstrate compliance with, the FCA’s requirements.

MARS provides an objective, consistent ‘resilience rating’ – like a credit rating. MARS also helps to determine next steps for those with vulnerabilities. This is all supported by on-demand human services (provided by a team of fully qualified nurses) to help with more difficult assessments – and to provide additional services which support the vulnerable. 

MARS rating

MARS assesses a range of vulnerability characteristics including health, wealth, lifestyle and support network to derive an objective assessment of consumer resilience.


 

Features

  • Calculates an objective measure of resilience/vulnerability, to make management and communication simple and consistent.
  • Holistic assessment criteria, covers multiple characteristics including health, wealth, lifestyle and support network.
  • Ability to track changes in vulnerability over time – MARS is a ‘lifetime’ system.
  • Captures consumer characteristics by direct input, online questionnaire (emailed to the client) or by independent assessment by MorganAsh nurses, by phone.
  • Secure (MorganAsh is certified under ISO 27001 and under Cyber Essentials Plus).
  • Highly flexible and configurable – can be adapted to the needs of any organisation. This includes assessment criteria, detailed questionnaires, ‘next step triggers’ and more.
  • APIs (application programming interfaces) enable real-time transfer of consumer data and integration with current and standard CRM systems.
  • Supported by a team of fully qualified nurses, to provide expert human help and assistance whenever needed – and to give the human touch, or helping hand, required by some individuals.

Benefits

  • Demonstrable compliance with the FCA’s regulations.
  • Saves advisers’ time, without adding compliance overhead.
  • Improves understanding of consumers, enhancing engagement.
  • Lifetime data, to monitor changes in vulnerability over time.
  • Provides an audit trail for regulatory compliance and FCA scrutiny.

Vulnerability isn’t binary

Vulnerability isn’t a yes or a no. Many people can be classified as vulnerable – and for many, the vulnerability is invisible. Many current means of assessing vulnerability are simply too superficial and don’t bear regulatory scrutiny. That’s why MARS has a sophisticated grading system which takes many factors into account. Yet, when MARS has done its work, it provides a ‘resilience rating' – like a credit rating. It’s simple, fast, objective and understandable. Plus, it encompasses a comprehensive range of potential vulnerabilities.

Try before you buy

MARS sets the benchmark for vulnerability assessment in the financial services sector. You can try a complete, unrestricted version of MARS for a full month, free of charge. Simply register to get started. After one month, we will automatically begin invoicing you. 

Free trial

You can try a complete, unrestricted version of MARS for a full month, free of charge. Simply request access our trial system to get started.


Integrations

MARS has a feature-rich API, enabling it to be easily integrated with other systems.

  • Microsoft Azure
  • Intelliflo
  • Iress

Find out more


Downloads


Our customers say

Given the often complex and technical nature of financial planning, we must do what we can to demonstrate and be seen as a trusted ‘safe pair of hands’. The current regulatory focus on vulnerability provides a timely opportunity to improve how we can recognise and address vulnerable circumstances, whilst also demonstrating individual care and empathy. Good practice principles and the use of fintech, such as the MorganAsh MARS tool, can greatly improve our ability to assess, store and communicate vulnerability across and between organisations.

Keith Richards, Chair of the Financial Vulnerability Task Force

We have three pricing tiers, delivering different levels of functionality. Our pricing model is simple: for regulated adviser firms, we charge per adviser; logins for administrators and paraplanners are free. For product providers, lenders and banks, fees are per assessment/search, based on volume.

Basic

  • Online and adviser assessments
  • Calculated resilience rating
  • Vulnerability report per assessment
  • Up to 10 cases per month

Standard

  • Online and adviser assessments
  • Calculated resilience rating
  • Vulnerability report per assessment
  • Management reports
  • Integration with standard CRM systems
  • Logos on reports
  • Customisable treatments
  • Reporting by office
  • Up to 20 assessments per month

Enhanced

  • Online and adviser assessments
  • Calculated resilience rating
  • Vulnerability report per assessment
  • Management reports
  • Bespoke integration via API
  • Logos on reports
  • Bespoke question sets
  • Customisable treatments
  • Reporting by office and network/group
  • Up to 40 assessments per month

Sign up for free access

You can try a complete, unrestricted version of MARS for a full month, free of charge. Simply request access to our trial system to get started. We’ll be in touch and help set up the system in the way that works best for you. After one month, we will automatically begin invoicing you. If you have questions, just get in touch with us – we’ll be happy to help resolve any queries.

  • Full access to all features
  • No limit on number of advisers
  • No limit on number of paraplanners
  • We’ll help get you started

Sign up for a free trial

We’re here to help

If you need help to get started or to resolve any queries, please let us know. We’ll be happy to help.

We want to make adopting MARS as easy and effective as possible. This can encompass onboarding just the MARS system, or helping your organisation to understand and implement greater organisational support for interacting with vulnerable consumers.

Fitting in with current processes

Although MARS is designed to be quick and easy to implement, it may need customising to fit in with your process and systems. Talk to us – and we will guide you through configuration options, system integration capabilities and how others are using the system.

Support to get you going

Adopting any new system, adding new business processes, or changing the way in which you interact with vulnerable people can take time and require help. We want you to make a success of using MARS and help you meet the FCA’s regulations on dealing with vulnerable people. Every organisation is at a different stage on this journey, so we can work with you – by understanding where you are now, and helping you adopt MARS as part of a vulnerability strategy.  

Integration

MARS has a full-featured API and is designed to integrate with other systems, such as CRM applications. For example, it supports integration with Intelliflo out of the box. If you need MARS to integrate with other systems, then please contact us so we can help you.

Treatments – what to do next and when to provide additional support

Many organisations are concerned that an increased understanding of vulnerabilities will lead to extra costs in supporting consumers. We think this is unlikely. We work with organisations to understand when it is appropriate to add additional services and when it is not. This is always in line with organisations’ conduct risk policies, compliance with the Equalities Act – and financial and customer service criteria.  

For help using MARS, or integrating MARS with your current systems, please contact us. We’ll be happy to help.

InstallationHow do I install MARS?

MARS is software as a service, accessed via any standards-compliant Web browser. No installation is required. This allows you to access MARS from almost any device and almost any location. An internet connection is required.

Help with the trialWhat if I need help to find my way around?

MARS is designed to be simple and straightforward to use, so we encourage you to dive in and use it. If you’d like a guided tour, or some help, please contact us.

SecurityHow secure is MARS?

MorganAsh is an ISO 27001-certified company, certificate 215374 – this is an international standard for managing information security. MorganAsh is a Cyber Essentials Plus-certified company, certificate IASME-CEP-003810 – this is the highest level of certification offered under the Cyber Essentials scheme. All client/consumer data is kept secure on our bespoke systems using 128-bit SSL encryption (the same method as used by most online banking applications).

RegulationHow is MorganAsh regulated?

MorganAsh is authorised and regulated by the Financial Conduct Authority and includes FCA permissions for both insurance and investments for this activity including: arranging (bringing about) deals in investments; assisting in the administration and performance of a contract of insurance; making arrangements with a view to undertaking transactions in investments.

ComplianceWhat about data protection?

MARS is fully compliant with GDPR.

CustomisationWhat happens if MARS doesn’t quite meet our needs?

For those organisations whose needs are not met by MARS, our system is designed to be extensible and customisable. Feel free to contact us about your specific needs.

IntegrationCan MARS talk to our other systems?

Our API enables integration with other systems. Current integrations include Intelliflo and Iress. Other integrations are available on request.

Why MorganAsh?What are MorganAsh’s credentials?

MorganAsh has enviable experience assessing consumers’ health and lifestyle characteristics, via clinical and cognitive assessments, since 2004 – exclusively for the financial services sector. We have assessed the health of thousands of consumers and looked after hundreds of severely ill consumers. We combine bespoke systems with empathy-driven clinical expertise, to deliver award-winning services. Since our formation in 2003, we have had few Financial Ombudsman Service complaints and zero found against us. There has never been an event reported to the Information Commissioner’s Office. Our customer complaints record is exemplary with only four complaints in the last three years.

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MorganAsh

7 Whitworth Court
Manor Park
Runcorn
Cheshire
WA7 1WA
United Kingdom

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