Broking And Wealth Management
Bovill has extensive experience of working with stockbrokers, whether retail or institutional, and firms providing wealth management services.
The traditional stockbroking sector has divided into firms which focus on retail client investment management, handling discretionary and advisory portfolios, where the conduct of business requirements are at their highest, and those which provide execution only services and trading platforms. We assist firms across the spectrum with their differing requirements.
Many of our broking clients have significant dealings with retail clients and accordingly must comply with extensive conduct of business requirements, at their most stringent where discretionary management is involved. We can assist these firms with the interpretation and practical application of these complex requirements and with monitoring compliance. We have considerable experience in relation to client documentation requirements and can assist firms in the development of documentation appropriate to their needs.
We can assist with compliance reviews ranging from assessments of a firm's systems and controls, to its corporate governance arrangements and to reviews of past business as well as conducting mock ARROW visits. We also assist with more general preparation for FSA visits, whether they are routine ARROW visits or thematic reviews.
We assist clients with the preparation, updating and checking of compliance documentation, including compliance manuals, procedures and monitoring programmes. We can assist with other major projects where firms change direction, consolidate or re-structure such as varying scope of permission, or advising on transfers of business.
We provide a full compliance support service for a number of firms in this sector so that they are able to focus on their core business whilst knowing that we will alert them to any relevant regulatory changes and are available deal with day to day compliance issues. We work in partnership with such firms so that they set the culture and drive the direction of compliance and we advise and assist in implementing their plans.