We help financial advisers with regulation – be it the wealth planning arm of a wealth management company or a standalone IFA providing holistic financial planning advice.
We can advise on all conduct and financial crime aspects of the business or step in, as an additional resource, to carry out regular compliance monitoring, ad-hoc reviews or new business checking.
Our experience spans most of the universe of investments recommended by advisers, including pension switching, DB pension transfers and unregulated collectives. And it also extends to assessing the suitability of mortgages, home reversions, lifetime mortgages, sale and rent back and other secured and unsecured lending.
Some examples of how we can help financial planning:
Suitability file reviews
With professional indemnity insurance becoming increasingly expensive and hard to come by, we can carry out a series of client file reviews to give an independent view of the suitability of recent recommendations which may help you to secure more appropriate and competitive cover.
Regulatory due diligence
Looking to buy a financial planning business? We are increasingly being asked to carry out due diligence on behalf of the potential purchaser of an advice firm. This can either concentrate on one particular aspect – such as training and competence or suitability of advice – or it could be a full ‘drains-up’ assessment of all regulatory matters including compliance with MiFID II and GDPR.
Dealing with the regulator
It can be quite daunting to be contacted by the FCA and we’ve got many years’ experience of helping firms deal with the regulator. Be it drafting a response to a letter, preparing for an FCA call or visit or defending a Skilled Person Requirement Notice. We can also help draft your complaint responses.