Find out about the IFS Trusted Advice Model
With the government and the industry focusing on improving the quality of advice delivery, expectations around adviser oversight are increasing. Trustees want greater confidence that advice risk is being monitored consistently. Regulators expect structured, documented governance frameworks. And funds themselves are looking for earlier indicators of deteriorating advice quality before member outcomes are affected.
Yet most adviser monitoring approaches still rely on fragmented indicators reviewed in isolation: a complaint here, a breach there, an audit finding somewhere else.
This makes it difficult to answer the most important question: “Do we truly understand our adviser risk profile?”
To help close this gap, we developed Monitor IQ, a structured, data driven adviser risk framework and implemented it across the funds and advisers we work with. Below is how the dashboard is helping funds move from reactive audits to proactive, evidence-based oversight.
1. A Single, Defensible View of Adviser Risk
The biggest challenge for many funds is consolidation. Data is everywhere, in complaints systems, breach logs, advice assurance program (AAP) outcomes, paraplanning reviews, and continuing professional development (CPD) records, but rarely combined in a meaningful way.
Monitor IQ solves this by bringing key indicators together into a weighted adviser risk score and category.
This gives funds:
Instead of relying on anecdotal or ad‑hoc assessments, funds gain a structured and repeatable view of adviser risk across all advice arrangements.
2. Earlier Identification of Emerging Risks
Traditional adviser monitoring is inherently reactive, identifying issues only once a breach, complaint or member impact has already occurred.
Monitor IQ shifts the focus to early detection.
Because it analyses adviser performance across rolling periods and is reviewed every six months, the framework highlights deteriorating trends before they escalate.
Funds are using Monitor IQ outputs to:
In a world where reputational and regulatory risks are high, early warning is critical.
3. Proportionate and Targeted Supervision
Not all advisers present the same level of risk and supervision shouldn’t treat them as if they do.
Monitor IQ enables a risk based supervision model, clearly classifying advisers into High, Medium, or Low risk categories. This ensures oversight effort is aligned to where risk is genuinely highest.
The result:
Funds can confidently demonstrate that their oversight is both proportionate and defensible.
4. Improved Transparency and Accountability
One of the biggest governance challenges facing funds is being able to clearly explain why an adviser is considered higher risk.
Monitor IQ strengthens this transparency. Its scoring methodology directly links measurable outcomes, including complaints, breaches, AAP non‑compliance results, and CPD gaps, to specific risk impacts.
This gives funds a stronger basis for:
It also gives Trustees more confidence that oversight is grounded in data, not subjective judgement.
5. Continuous Improvement Over Time
Unlike one off audits or annual reviews, Monitor IQ is designed to deliver ongoing insights.
Over time, funds gain:
It becomes not just a monitoring tool, but a source of intelligence to improve advice quality and member outcomes.
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The Bottom Line
Super funds want and need a clearer view of adviser risk. The industry is moving toward stronger advice governance, greater transparency, and more consistent oversight across multiple advice arrangements.
Monitor IQ gives funds the structured, data driven framework needed to meet those expectations.
