Let us run our keen eye over your written suitability reports and financial advice files. We have vast experience in undertaking financial advice audits and can spot any areas that you might need to tighten up. Nobody wants compliance breathing down their neck. At the same time no client, or the FCA, wants to read a dry list of generic risk warnings. Our financial advice audits focus on ensuring your written suitability reports are doing exactly what you need them to do. In essence satisfying the FCA that you are providing suitable advice and in a manner that your customers can understand.

Happy customers plus a happy FCA equals happy adviser! Remember you are not here to make a compliance consultant happy!

Ever wondered what other financial advisers were doing with their files? Ever wanted to have a quick look to ensure your files were in the best place possible? Well, we’ve looked at thousands of files over the years. And we’re here to give you the benefit of our experience by implementing financial advice audits on your files. Your financial files need to hit certain standards in terms of compliance. But it’s also about so much more than that. In the modern day of GDPR, there is a chance that your client can request the details of what you have about them on record. And you will only have a short window of time to produce this. Your file isn’t in order? Well, this will only take longer to produce, possibly missing the deadline with all the problems that can arise from this.

Your file serves the purpose of telling the story of you and your clients. Your file should be in the right place for you pick up again with that client at any stage in the future. Also, someone else in your organisation should be able to pick it up and carry on with the advice you’ve given. But that’s not always the case. Which is the whole purpose of our financial advice audits, helping you deliver quality and compliant financial planning.

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What’s Involved?


Once you give us access to the file in question, we will work through a structured method, analysing the documents you should have against what actually exists on file. For each part of the file we don’t merely check to see if it exists. We also look at the quality of your file. Being suitable is about adding value for your clients more than it is carrying out a tick box exercise.

From there we make recommendations of what is needed to bring your file up to standard. Obviously, some items will be flagged as red - something that is needed to ensure you have all that is required by compliance. But other items will be marked as amber – something to improve this time or next. As we help you understand what a great file will look like, you will improve your future files at the same time.


What You Get For Your Money


You will receive a report based on the suitability of your file. Unfortunately, claims against financial advisers are on the rise. The last thing you want is the time, reputational damage and potential the loss of cash that a claim can give rise to. Having a suitable file on record is of paramount importance if you are to defend a claim.

And the positive side of this is you want your file to be right, time after time, whether there is a claim to defend or not. Financial advice is an industry where we can learn from our peers. We help you get your files right for the present – and the future too. What will you get for your money? The confidence and skills to take this forward.




How long does this take?

Great question. Once we have all the details we need, we go ahead and carry out all the research needed to make that recommendation. For file suitability this would normally be a 5 to 7 working days turnaround.

Who is responsible for the recommendation?

That’s still you. We’re here as a support mechanism but the advice is still yours to give. We’re always here at the end of the phone to discuss our recommendation or answer any questions you have.

Do we have to take your advice?

Certainly not! We’re experienced financial advisers as well as qualified paraplanners, so we’re here to help. Our recommendations are just that – recommendations. They are designed to ensure your file is suitable. But, the final decision on what that file should look like is down to you.