MiFID II suitability software for wealth and fund managers
Keep your client portal. Plug MiFID II advice into it.
Suitability questionnaires, the documents they produce, and what happens next: signing, archiving, filing. Delivered as components and APIs that live inside the advisor and client apps you already have.
Available as web components, a REST API and webhooks.
If the value of your investments fell 20% in one month, what would you most likely do?
There's no right answer. It helps us recommend investments that match how you handle losses.
- Investment horizon
- 10 years or more
- Ability to bear losses
- Up to 25% of the amount invested
- Risk toleranceFrom step 3
- Moderate: would hold through a 20% fall
- Client copy goes out for e-signature, client first, then advisor
- Archive copy is uploaded to your document server over SFTP
- CRM record is updated through a webhook
Built for advisory teams at
- Wealth managers
- Fund managers
- Private banks
- Independent advisers
- Family offices
Ask anything.
Generate the paperwork.
Decide what happens next.
Most advice platforms want to be where your clients log in. This one is built to disappear into the portal, CRM and advisor tools you already run, and your team changes question sets, documents and flows as configuration rather than as a release.
Build the questionnaire your compliance team wants, without waiting for a release.
Start from a MiFID II baseline covering knowledge and experience, financial situation, objectives, risk tolerance and sustainability preferences. Then add, reword, reorder and branch questions yourself.
- Every question type: single and multiple choice, scales, amounts, dates, matrices, free text and file upload
- Branching and scoring rules compliance can read and approve
- Versioned question sets, so every answer is stored with the exact wording the client saw
- 1Investment horizonSingle choice
- 2Experience with listed equitiesMatrix
- 3Reaction to a 20% fallScored 0 to 3Single choice
- 4Ability to bear lossesAmount
- 5Do you have sustainability preferences?Yes or no
- 5aMinimum share of sustainable investmentsShown if 5 is yes
- 6Source of fundsFile upload
Answers become documents, not data someone has to copy.
Bind any answer to any template. Paragraphs appear only when they apply, tables fill themselves, and the result is a ready-to-sign PDF in the client's language.
- Statements of suitability, appropriateness warnings, cost disclosures and KYC summaries, or your own templates
- Conditional sections driven by answers and scores
- PDF/A output, with a hash of every version for the archive
- Client
- Ingrid Berg
- Advisor
- Anne Karlsen
- Date
- 3 October 2026
- Question set
- Suitability, retail, v4.2
You are investing with a horizon of 10 years or more and could bear a loss of up to 25% of the amount invested. If your investments fell 20% in one month, you told us you would hold and wait for a recovery.
You asked that at least 20% of your portfolio is held in sustainable investments as defined in SFDR Article 2(17).
Then decide where every document goes next.
Any document can start a flow. Send it for signature, upload it to your document server, update your CRM, or nudge the client or the advisor. Steps run in sequence, in parallel, or only when a condition is met.
- Steps for e-signature, SFTP and S3 uploads, webhooks, email and your own APIs
- Conditions, deadlines, reminders and retries
- Every run logged step by step, ready for the audit trail
Three ways in. Use the one your stack prefers.
Nothing here asks you to move clients, rebuild sign-in or change your systems of record. It runs behind your UI or inside it, and reports back to the systems you already trust.
Drop-in components
Web components and a React package. Add one tag, pass a client ID, and the flow renders inside your page using your fonts and colours.
<advice-flow>Headless API
Prefer your own UI? Fetch question sets, submit answers, render documents and start flows over a REST API.
POST /v1/sessionsEvents and webhooks
Subscribe to answers, documents and flow steps, so your CRM and archive hear about everything as it happens.
document.signed<script type="module" src="https://cdn.tervan.io/embed/v1.js"></script>
<advice-flow
question-set="suitability-retail"
client="c_8f2a41"
locale="nb-NO"
theme="inherit"
flow="after-suitability">
</advice-flow>{
"event": "flow.step.completed",
"flow": "after-suitability",
"step": "upload_document_server",
"document": "statement_of_suitability",
"question_set": "suitability-retail@4.2",
"sha256": "3f9a07…c21e",
"at": "2026-10-03T09:16:03Z"
}- Single sign-on with your identity provider (OIDC or SAML)
- Components inherit your CSS variables
- Hosted in the EU, or in your own cloud
One flow, two seats at the table.
The same question set, documents and flows run whether the advisor leads or the client goes it alone.
Run it in the meeting
Advisors take clients through the questions, add notes where the rules expect reasoning, and see the suitability outcome before recommending anything.
Or send it ahead
Clients answer on their own phone, stop and pick up where they left off, and sign with e-ID inside your app, under your brand.
The regulation lives in the data model.
Each MiFID II obligation maps to something the platform does, and keeps a record of. Your compliance team configures it. Your auditors can trace it, answer by answer.
- Question set Suitability, retail v4.2 opened by Anne Karlsen
- 23 answers locked, hash 3f9a07…c21e
- Statement of suitability generated in Norwegian
- Signed by client with e-ID
- Signed by advisor with e-ID
- Archive copy uploaded to document server
- CRM updated, webhook returned 200
| Obligation | Reference | How it's handled |
|---|---|---|
| Suitability assessment | MiFID II Art. 25(2) DR 2017/565 Art. 54 | Question sets for knowledge and experience, financial situation and objectives, with scoring rules compliance approves before they go live. |
| Statement of suitability | MiFID II Art. 25(6) DR 2017/565 Art. 54(12) | Generated from the client's answers and provided in a durable medium before the transaction. |
| Appropriateness and warnings | MiFID II Art. 25(3) DR 2017/565 Art. 55–56 | Checks for non-advised services, with warnings the client acknowledges before continuing. |
| Sustainability preferences | DR (EU) 2021/1253 | A dedicated question set whose answers carry through to the statement of suitability. |
| Costs and charges | MiFID II Art. 24(4) DR 2017/565 Art. 50 | Ex-ante cost disclosures generated from your product and fee data. |
| Record-keeping | MiFID II Art. 16(6) DR 2017/565 Art. 72–73 | Every answer, question version, document and flow step stored with a timestamp and hash, and retained for at least five years, or up to seven where your regulator requires it. |
Tervan helps firms meet these obligations and keeps the evidence. Responsibility for compliance stays with the investment firm. References are to Directive 2014/65/EU (MiFID II) and Commission Delegated Regulations (DR).
MiFID II questions, answered.
The short version of what the rules ask for, and how Tervan fits in. For the long version, read our practical guide to MiFID II.
What is MiFID II?
MiFID II is the EU's Markets in Financial Instruments Directive (Directive 2014/65/EU), which has applied since 3 January 2018 together with the MiFIR regulation. Among other things, it sets the investor protection rules investment firms follow when they advise clients or manage their portfolios: suitability and appropriateness assessments, disclosure of costs and charges, product governance and record-keeping.
What is a MiFID II suitability assessment?
Before giving investment advice or managing a portfolio, a firm must collect information about the client's knowledge and experience, financial situation (including their ability to bear losses) and investment objectives (including risk tolerance and sustainability preferences), and only recommend what suits them. The rules are in Article 25(2) of MiFID II and Article 54 of Delegated Regulation (EU) 2017/565.
What is a statement of suitability?
A report the firm gives a retail client before a transaction made on advice. It summarises the advice and explains why it suits the client’s preferences, objectives and other characteristics. It must be provided on a durable medium, such as a PDF (Article 25(6) MiFID II).
Does Tervan replace our client portal or CRM?
No. Tervan runs inside the portal, CRM and advisor tools you already have, as web components or through a REST API and webhooks. Clients keep logging in where they always have, and your systems of record stay the same.
Can our compliance team change the questionnaire without developers?
Yes. Question sets, scoring rules, document templates and flows are configuration, not code. Every change is versioned, so each answer is stored with the exact wording the client saw.
Does Tervan cover sustainability preferences?
Yes. Since August 2022, Delegated Regulation (EU) 2021/1253 has required firms to ask about sustainability preferences as part of the suitability assessment. Tervan ships a dedicated question set whose answers carry through to the statement of suitability.
Is it for fund managers as well as wealth managers?
Yes. Wealth managers, private banks and independent advisers use it for investment advice and portfolio management. UCITS management companies and AIFMs that hold MiFID top-up permissions for discretionary portfolio management or investment advice follow the same suitability rules for those services.
Who is responsible for MiFID II compliance when we use Tervan?
Your firm. Tervan helps you meet the obligations and keeps the evidence, but responsibility for compliance stays with the investment firm.
See it running inside a portal like yours.
In 30 minutes we'll embed a suitability flow in a sample portal, generate the statement and send it for signature, end to end.
Or write to hello@tervan.io