Compliance Evidencing is a new feature for our KAN members which makes meeting your compliance requirements easier and reduces stress when it comes to getting file reviews done.
During your advice process for all Mortgage, Insurance, and Investment advice opportunities, you will now be able to access a Compliance Evidence page from a client's profile which breaks the advice process down into its six stages. Any KAN-enabled Trail account with access to that client profile will be able to assign items as evidence of completing each stage. When you win the opportunity, you can rest assured knowing that you are doing what you need to meet your compliance requirements under KAN.
Join Farran in this quick video tutorial on how to use this:
Why Do I Need to Evidence my Advice?
In this day and age, it's more important than ever to maintain good record-keeping processes, especially when it comes to your compliance requirements. With potentially multiple opportunities for each client, it quickly becomes difficult to keep track of the documents and emails you might need on-hand come audit time.
To help make this process as easy as possible, we've set up a space in Trail where you can assign evidence from the Timeline or Documents page to individual advice opportunities. The evidence stages allow you to hold the appropriate records for the appropriate amount of time, and easily understand at a glance what relates to which opportunity.
Everything will be exactly where you need it when you undergo a file review by KAN (or an external third party) or if you receive a complaint. No more trying to find the needle in a haystack, all the information will be stored against the correct opportunity!
Viewing the Stages
To view the Compliance Evidence page for any advice opportunity, go to any client's profile and scroll down to the Opportunities box. Click on an open advice opportunity to bring up the existing summary sidebar as well as the Compliance Evidence page.
From here, you will be able to see the advice process broken up into six stages, with space to assign evidence to each stage. These stages serve as compliance "guard-rails" to help provide you with direction in how to meet your compliance requirements while providing advice. This page will serve as your compliance record that you can refer back to both during and after giving advice 👍
Assigning Evidence to Advice Stages
To make evidencing as easy as possible, there are a number of ways you can assign either emails, notes, activities, or documents as evidence to a particular opportunity.
From the Compliance Evidence Page
When in an opportunity's compliance evidence page, you are given an option to Assign or Add New under each individual stage. This is a quick way to assign evidence to a particular opportunity and stage without leaving the page.
Click Assign to see the client's timeline, where you will be able to select one or multiple items from the timeline to assign to the stage you selected earlier. Click Confirm to save your selected records or Cancel to go back without assigning anything.
When Creating a New Note or Activity
You can now create a new note or activity in a client's profile and assign it to an opportunity straight away.
At the top of the profile, click on either the Add Note or Add Activity button to create a new timeline item. You will now see a new Assign as Evidence section at the bottom of the window which can be switched on and off. Toggle it on to bring up drop-down menus where you can choose the correct opportunity and stage to assign the item to.
From here you can also assign the item to additional opportunities if the same item is relevant for more than one - simply click + Assign to New Opportunity. When you click save, the item will be created and appear both on the timeline and under the relevant stage in the Compliance Evidence view.
For Existing Timeline Items
If you find an item in the Timeline that you would like to assign as evidence, you can do that quickly by clicking the 3-dot menu.
Click Assign as Evidence from the menu to bring up a new window. For notes and activities, this will bring up the Edit window where the Evidence functionality will be switched on by default - simply select the opportunity and stage from the drop-downs. For emails or documents, this will bring up a smaller window with only the drop-down menus. Click Save and the items will be successfully assigned.
If you've received or uploaded a file that you would like to assign as evidence, you can do this via the client's Documents page.
Click Assign as Evidence from the 3-dot menu for any document found within the Uploaded Files, Email Attachments, or Note Attachments tabs to bring up the evidence window.
Note: Assigned documents that are not attached to an existing note or email will be visible in the Compliance Evidence view but not on the client's Timeline.
Removing Evidence from the Advice Stages
You may find that you change your mind and decide to remove particular items from an evidence stage. The easiest way to do this is directly from the Compliance Evidence view.
Find the item you want to remove and click the 3-dot menu. Select Unassign Evidence and the item will disappear from the stage. It will still be visible in the Timeline view and assigned to any other opportunities, but will no be assigned to the one you have removed it from.
Items can also be unassigned any time while you are editing them. Either toggle the Assign as Evidence option to off to unassign the item from all opportunities at once, or click the X button to the right of a particular opportunity to unassign it from just that instance.
Note: If you delete an item or move it to a new profile, it will be automatically unassigned from any opportunities it was attached to previously.
Marking Stages as Complete
When you have finished assigning evidence to a particular stage, you will need to mark that stage as complete. This is to remind yourself what stages of the advice process you have completed, but also declares that you have assigned as much evidence as you intend to for that stage.
Stages can be marked as complete even if there is no evidence assigned to them. If you have no evidence to assign for that step, simply mark it as complete straight away.
To mark a stage as complete, navigate to that stage in the Compliance Evidence view, and click the circle in the top right corner. It will go green and the stage will compress by default. If you change your mind, you can click the circle again to mark the stage as incomplete.
Evidence can be assigned to stages regardless of whether they have been marked as complete or incomplete, but you won't be able to win an opportunity without all stages being marked as complete.
Completing an Advice Opportunity
In order to win an advice opportunity, all advice stages will need to be marked as complete. Completed stages do not need to all contain evidence, so if you have no evidence to assign, simply mark each stage as complete and continue.
If you have not assigned evidence and try to win an opportunity, you will be returned to the Compliance Evidence view to finish assigning evidence.
All advice stages only need to be marked as complete if you win the opportunity. If you lose or archive an opportunity, simply evidence as far as you have gotten in the process - this will be saved and viewable later.
Viewing Closed Opportunities
If you need to look back at the evidence for a particular opportunity, whether it be won, lost, or archived, this can be done from a client's profile.
Scroll down to the opportunities box and select either the Won, Lost, or Archived tab. Select an opportunity from the list to bring up a read-only record of the Compliance Evidence view. From here you can view the evidence you assigned to each advice stage at any time.