Due Diligence

Due Diligence


Ensuring that the providers and products you recommend to your clients are suitable is essential.

Due Diligence is about going beyond just comparing charges or referring to industry awards. It is about a more in depth assessment of providers looking at areas such as financial strength and viability, service and support as well as areas like Risk Management, Data Protection and Disaster Management.

The depth of due diligence required will depend on the product considered.

Some firms choose to use panels of approved providers whilst others carry out whole of market research on a case by case basis and both approaches have advantages and disadvantages. What is crucial is that the approach is applied consistently and impartially, reviewed regularly and documented.

Above all your approach must be genuinely whole of market and independent.

  • Do you have a clear, consistent and documented process for selecting providers for each area of advice?
  • Is your process applied by all the advisers in your firm?
  • How often do you review any providers you have placed on an approved panel?
  • Do you have a process in place for clients with particular or unusual needs?

We can:

  • Review your current process and help you design a documented process that can be applied consistently across your firm.
  • Provide you with a process for particular product areas that may be advised on more rarely such as EIS, BPR schemes or choosing a suitable SIPP provider for a property purchase.
  • Put together panels of approved providers for any product area, from wraps to offshore bonds to bespoke SIPP and SSAS.
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