How We Work
At IFA Consultancy we believe we don’t work for our clients, but with them.
From day one we invest time in getting to know your business, what and who makes it tick and the specific needs and objectives your firm seeks to satisfy.
We listen and we learn.
We determine the circumstances or concerns that led you to seek professional regulatory compliance advice. It may be that you are new to regulation having expanded an existing business or set up a new one, perhaps having left a network.
Alternatively, you may looking to inject fresh energy and professional thinking by replacing your existing compliance service provider
We familiarise ourselves with your people and process so we have a 3600 understanding of your firm and how it may be impacted by the regulatory framework.
Priorities & Planning
We identify and attend to any priorities that emerge from this initial process of discovery.
Having gained a firm grasp of your firm’s activities, staff and existing systems and controls, we then develop a comprehensive six-month FCA Compliance Support Plan.
This bespoke programme will embrace your specific needs, setting out any remedial actions necessary to ensure existing protocols are compliant as well as advising on the design and implementation of any new systems that will enhance best-practice.
The support you need
Whilst we do not require our clients to commit to a fixed-term contract, we do endeavour to partner with them over the long-term.
This is because securing and maintaining compliance is not a one-off project. It’s a process.
The regulatory framework constantly evolves and it’s important, both financially and reputationally – to stay on the right side of the regulator.
That’s why our service incorporates provision of ongoing monitoring and advice.
This embraces:
- Briefing and updates for firm principals on current FCA rules and methods of implementation
- Continuing support across all regulated areas of business, including RegData, CONNECT and FCA notifications
- Regular file checking, including adviser feedback and remedial compliance work
- Expert support for annual Senior Managers & Certification (SM&CR) regime submission
- Advising on recruitment and training induction for regulated employees and senior staff subject to SM&CR rules
- Specialist advice on the adherence to the Training and Competence regime
- Assistance in managing practical supervision of all advisors.
- Provision of supervisory mechanisms, including staff observation
- Advice and approval of financial promotions and marketing initiatives
- Maintenance of compliance registers and policy documents
- Advice on report and letter writing
- Provision of template documents
- Support for client and Financial Ombudsman Service complaint and dispute resolution