Regulation  

Discounts on offer for compliance support enquiries

Discounts on offer for compliance support enquiries

IFA Compliance is offering discounts for advisers who come forward for regulatory help in January, its head of sales Ian McIver has said.

The Cheltenham-based firm, which provides support services for advisers, is giving directly authorised individuals six months’ worth of compliance with no fee if they switch to IFA Compliance.

Meanwhile those who are hoping to become directly authorised by leaving a network will have no fees during the application period and then three months of free compliance.

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Mr McIver said: “I think outsourcing is the way forward.

“If you are running a business you would not attempt to fix your laptop or clean your office. It is the same with a lot of IFAs who outsource their investments.

“What an adviser is good at is dealing with clients. That’s where their value is and outsourcing your compliance also de-risks your business to some extent.”

Background box

IFA Compliance was founded in 1996, and its Reever system, which allows IFA to handle data, is used by more than 400 advisers across the UK.

Sales head Ian McIver (pictured), who joined the firm in 2014 after 12 years as managing director of the Whitechurch Network, said last year that the FCA’s regulation is responsible for turning networks into nationals.