My Dealer Services (MDS) has unveiled a range of new services for its adviser network as part of a strategic growth initiative. The self-licensing specialist group is aiming to expand its network in 2025 by introducing a compliance portal and establishing key technology partnerships to enhance member services.
Through a collaboration with Claras, an Australian fintech company, MDS will offer its network of over 400 advisers access to advanced artificial intelligence-driven software tools. These tools will enable advisers to efficiently convert client conversations into detailed file notes, streamlining administrative tasks and ensuring compliance standards are met.
According to Alexander Euvrard, MDS director and founder, Claras’ technology can generate file notes and summaries swiftly, significantly reducing the time and effort required for compliance-related documentation. The average time to create a file note and summary is just five minutes, including verification.
MDS has also joined forces with Broker Support Global (BSG) to introduce a new paraplanning and administrative service for its members. This collaboration will provide SOA creation and compliance support using BSG’s global team of paraplanners and administrative staff, enhancing the overall efficiency of MDS advisers.
Moreover, MDS has introduced the MDS Licensee Compliance Portal, offering advisers a secure dashboard to keep track of compliance deadlines and regulations. The portal also features a live industry newsfeed and provides access to webinars, articles, and a platform to store compliance-related documents.
Euvrard emphasized MDS’s commitment to expanding its services in 2025 to benefit both current and prospective members. By leveraging economies of scale, MDS aims to negotiate lower costs for its members, particularly smaller practices that may lack the resources to manage compliance requirements effectively.
In preparation for a phase of significant growth, MDS appointed Ashley Mahadeea as the head of strategy in October. This move underscores the company’s dedication to enhancing its services and supporting advisers in running their businesses efficiently while prioritizing client needs.
The recent enhancements by MDS align with its vision of simplifying self-licensing for advisers and empowering practices to operate in a client-centric manner. As the financial services landscape evolves, MDS remains focused on providing innovative solutions and expanding its offerings to meet the changing needs of advisers and clients.
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