Cases are checked remotely; this allows for a more cost-effective approach and can be focused to specific busy times without the need for face-to-face contact. This will include observations on key documentation, Know Your Client details, Research and Suitability of Advice and provide remedial action suggestions where required. This is not a tick box exercise but an opportunity to review the advice process as well as the overall suitability of the advice. We consider whether the adviser has followed the expected advice process, considered the main FCA guidance & rules as well as whether the firm would be able to defend the advice in the event of a complaint.
Typical costs: £80+VAT per remote client file review (excluding multiple transaction files or higher risk cases such as drawdown, structured products or PP switching) or £120 + VAT per drawdown / PP switching (up to 3 into 1) / replacement business remote file check.
Our most popular service is checking Drawdown / FAD cases and PPP switching.
We do not check any form of UCIS / Unregulated products & investments / BPR IHT schemes / film schemes or similar where the Regulation and UK coverage is unclear (DB transfer checks are carried out by the separate company, Pension Transfer Checking Limited).
