Ermos AI for best interests file notes.
The best interests duty is demonstrated in the file: why these lenders, why this product, why it fits this client. Writing that rationale properly for every deal is the compliance work brokers defer, and the file that suffers is the one that gets audited. The unit drafts it from the deal itself.
How it works on the unit
The client's position, the products compared and your notes on the recommendation are the sources.
The comparison and the reasons the recommendation fits this client's circumstances draft into your file note format.
Where the rationale is thin, fewer options compared than usual, a fit that needs explaining, the draft flags it for the broker to address.
The broker settles and confirms the record. The file evidences the duty because the broker's actual reasoning is in it, structured.
Why this is worth doing properly
When a recommendation is questioned, years later, by a client, an aggregator audit or ASIC, the file note is the answer. A practice whose rationale is consistently documented at the time of advice is a practice with short audits.
Why on-premise matters here
These notes restate the client's finances and your commercial reasoning. On the unit, both stay inside the brokerage.
Common questions
Does the unit decide what is in the client's best interests?
What does an auditor see?
Does it work with our aggregator's compliance tools?
See Dominion answering from your own documents.
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