COMPLIANCE SERVICES FOR FINANCIAL PLANNING FIRMS

COMPLIANCE SERVICES FOR FINANCIAL PLANNING FIRMS

FIRMSAICORP Consulting has unique knowledge and experience of the financial planning profession and the regulatory issues relating to it. Many of our regulatory consultants have practiced as financial planners or para-planners in addition to their regulatory specialization. We have carried out assignments relating to financial planning standards and practice for many firms.Financial planning firms can include firms described by a variety of labels such as:

  • Independent Financial Advisers (IFAs)
  • Multi-tied advisers
  • Tied advisers
  • Wealth Managers

What matters is not the label used to describe the firm, but whether the firm follows adequate standards to ensure it provides an acceptable standard of service and is compliant with regulatory requirements.

AICORP Consulting is geared to help any of the firms mentioned above. We can provide advice and hands-on assistance with many of the technical and compliance issues relating to the financial planning process, engineering process & operation, customers’ experience, practice standards and the regulatory issues arising.

Practice Management

AICORP Consulting can help with:

  • The role of the Para-planner
  • Time Management
  • Financial Resources
  • Relevant Regulatory Permissions
  • Conversion to Fees
  • Best Practice Processes
  • Business Process , Design and Implementation
  • Engineering Process, Design and Implementation
  • Embedding Certified Financial Planner (CFP) Standards within the business

External compliance monitoring

We assist our clients in a very practical way by helping them carry out the regular compliance risk and resource assessments necessary to demonstrate the required level of senior management control of their business. We will then help them to implement appropriate compliance monitoring programs supplemented by regular external monitoring by AICORP Consulting. This ensures that internal monitoring is robust and provides good quality control.

Bulletins and timely reminders

We produce a summary of requirements for each of our clients. We then issue timely reminders to them for each item requiring a report or notification.

There is a continuing stream of regulatory material that firms must read and digest in order to ascertain whether it is likely to have an impact upon their business. AICORP Consulting will help by producing regular short, reader friendly bulletins, which summarize issues or news so our clients can decide whether further investigation is required. Additionally we will produce in depth analysis as required for major regulatory developments.

Regulatory consultancy

Firms frequently face business decisions where an incorrect or incomplete grasp of the rules can result in actions that have serious regulatory implications. We will help by being available to attend and contribute to senior management discussions relating to major issues. We will consider the business objective and advise the optimum action to achieve it in a compliant fashion. We frequently help our clients to get key decisions right first time.

Liaison with regulators

On a significant number of occasions we assist our clients by handling, on their behalf, discussions or consultations with the FSA and other regulators. Sometimes we are able to do a “no names” basis. This enables us to explore issues and clarify what will or will not be acceptable to a regulator.

Additional Work

Whatever or whenever you wish to implement, please note that we are ready at your door step to serve you.

All Services