The choice to run a business model that suits the adviser and put compliant processes and procedures in place that suit the way in which they work; not just be forced to adopt a one-size-has-to-fit-all structure. They can choose the tools, systems and suppliers that complement the way in which they work, not the other way round.
I wholeheartedly believe that there are good networks available, and that some advisers will be best suited to network membership. There are good compliance support companies for DA members, and that’s the best route for some advisers, while others still will find the best fit for them is direct FCA authorisation without any external support.
I agree with Chris that advisers need to be armed with information about all of their options and the choice they make must be based on careful consideration and research, not railroading into the option most convenient for lining someone else’s pockets.
Clients are more in need of professional financial advice than possibly ever before and the most important thing is ensuring that they have access to that, through an adviser who is operating compliantly and professionally.
Gary Kershaw is group compliance director at SimplyBiz Group.
