Manchester-based B-Compliant has launched a new service to help small, independent financial firms meet their regulatory responsibilities.
The financial compliance experts have developed their Partnership Package to enable clients to outsource complicated and time-consuming back office tasks.
Vicky Pearce, founder and director of B-Compliant, said: “The volume and complexity of Financial Conduct Authority (FCA) regulations can be overwhelming for adviser firms, who want to focus on their clients, rather than worry about compliance issues. Using our Partnership Package, they can hand over this area of administration to us, safe in the knowledge it will be completed competently and diligently.”
B-Compliant produces a compliance monitoring plan for Partnership Package clients and then manages it for them, submitting information to the regulator as required. Partner firms are asked to provide the necessary background and sign off work before it is presented, allowing them to retain full control.
Vicky added: “Dealing with compliance issues on a reactive basis opens up advisers to risk and most small firms have neither the competence nor capacity internally to be proactive. By utilising available technology, we can become the compliance team for clients across the UK, providing a level of safety and security they would otherwise be unable to access.”
The Partnership Package also includes staff training, regular reports and updates on compliance issues, policy reviews, complaint handling and much more. It is cost effective and simple to bolt onto existing business practises, effectively outsourcing all compliance tasks.
B-Compliant specialises in compliance for FCA regulated businesses, including financial and mortgage advisers, wealth, fund and discretionary investment managers, private equity firms and insurance brokers.