SimplyBiz has launched a new training and competence scheme to help its member firms meet the Financial Conduct Authority’s regime, in particular the ongoing maintenance and management of advisers aspects.
The new proposition will see one of SimplyBiz’s compliance field team visit a member firm to design a programme built around the way in which that adviser operates.
Although each plan will be individually crafted, they will include the key components of file reviews, skills observations, knowledge assessments, a CPD review, training needs analysis, key performance indicator collation, development plans and annual credit checks.
Paul Wilby, SimplyBiz’s head of compliance field services, said: “The FCA’s training and competence regime states that the head of a firm needs to ‘assess the competence of each of your advisers on an ongoing basis, to ensure appropriate training is provided, and to keep records of anything that relates to the firm complying with T&C.
“Our new service addresses each of these points and will ease the regulatory burden upon the shoulders of principals of firms with multiple advisers.”
peter.walker@ft.com
