Independent Financial Advisor
I set up IFA Consultancy in 2004 to provide compliance consultancy services to Independent Financial Advisers. I had ten years’ experience as an IFA, both in the bank and private sector, prior to this role as a compliance consultant. I therefore know how to help with the compliance needs of small IFA firms. Today, 70% of my clients are independent financial advisers and I have worked with many of them for several years. IFA Compliance is my specialism. I am qualified to Diploma level and I am a pension transfer specialist. I am also a qualified T&C supervisor because of my CII AF6 Management and Supervision qualification . I have additional qualifications in pensions, trusts and mortgages.
I can help with the full range of FCA Compliance for IFA firms. As part of my initial visit we will work together to assess your needs and then I would provide you with a 6-month compliance support plan. If there are urgent development points then we would prioritise those. For instance, you may have a certain compliance issue that has prompted your enquiry, anything from recent contact from the FCA, new rules that you are unsure of, or just a complaint you may need advice on.
At the first of my regular visits I will then identify the items that I will take responsibility for leaving you with more time for your core activity of advising clients. The bespoke compliance support will provide you with monthly on site visits which will take care of all of the elements of your compliance regime.
Guidance on FCA rules, authorisations and procedure updates
KEY FEATURE: Providing support for all regulatory areas of business including RMAR annual reporting and notifiable events
KEY FEATURE: Briefing for firm principals on changes to FCA rules and methods of implementation
Supplying and monitoring a Training and competence regime
Recruitment and training induction for regulated individuals
KEY FEATURE: File checking support with one to one adviser feedback
Provision of supervisory mechanisms including observation of staff
Advice on Report Writing / Suitability Letter drafting / advice on in-house templates
Advice and monitoring of your CPD scheme
KEY FEATURE: Developing Compliance monitoring plans and overseeing implementation
Monitoring and advising on Remedial Compliance work following file checks or adviser development plans
Approval of financial promotions and marketing initiatives
Keeping policies and procedures up to date
Maintenance of compliance registers and policy documents
KEY FEATURE: Treating Customers Fairly implementation and monitoring
KEY FEATURE: Assistance with the handling/resolving of complaints and disputes with your clients and the FOS
KEY FEATURE: Help with regulatory visits and Desk Based Monitoring
Help with the practical Supervision of all advisors including risk assessment
Provision of guidance on T&C matters
KEY FEATURE: Delivery of compulsory staff training (e.g. data protection, anti-money laundering, TCF)