Pre-Approval of Advice

Pre-Approval of Advice


It can be a challenge for firms to keep abreast of all the changes and be aware of how they could potentially affect the advice provided to clients.

With the raft of changes brought about by Pension Freedoms, IHT main residence nil rate band, Lifetime ISAs, Help to Buy ISAs, Personal Savings allowance and the Mortgage Credit Directive, it is essential firms ensure that the recommendations made reflect the latest position.

These changes taken together with the regulatory risk involved in business such as pension transfers, trust related advice, EIS/BPR recommendations and product switching mean it is vital to identify any issues before it is too late.

Management Information

Pre-approval of advice can also provide crucial information to managers and identify training and supervision needs for their advisers. In addition, pre-approval of advice could provide early indications of potential compliance breaches enabling action to be taken to minimise their possible impact. This service is available for just one file in isolation or if you are extending your services into other areas such as advising on mortgages and or equity release you may opt to have a few files checked.

How we can help

ComplyMe have extensive experience in pre-approving advice, giving you the comfort that your files are being reviewed by suitably qualified individuals. As part of this service we will provide a report with our feedback including guidance and recommendations where appropriate.

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