FCA compliance & business support
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At Richdale, we offer a range of services that are vital to the success of financial services providers. These services involve providing a compliance platform in relation to all aspects of Financial Conduct Authority (FCA) regulations. Read on to find out more about our services, and why financial services providers would benefit from our services.

All financial service providers carrying out activities regulated under the Financial Services and Markets Act 2000 need to be Appointed Representatives of a Directly Authorised firm or be Directly Authorised by the FCA.

The services that we offer are crucial for financial services providers, both Appointed Representatives and Directly Authorised firms, to achieve and maintain the required level of compliance with FCA regulations, and to avoid enforcement actions.

We pride ourselves on providing a personal touch and making the compliance process as simple and stress free as possible. Whether you are just starting out, or an experienced adviser looking for extra compliance support we have the perfect solution for you.

Appointed Representative Firms

Financial services providers that are not directly authorised with the Financial FCA but have embarked on, or are looking to embark on, a rewarding career within the financial services industry as Mortgage, Protection or General Insurance brokers, have the opportunity to join Richdale as an Appointed Representative.

Included in our Appointed Representative firm package:

  • We take care of all the necessary paperwork with the FCA to get you set up as an AR of Richdale.
  • We will create all the necessary procedural documentation to enable you to begin trading in a seamless fashion and will help ensure any stationary, website or marketing you provide is compliant.
  • We provide all the initial training required to get ARs authorised to start trading, including all the necessary guidance documents and a compliance procedure manual which is kept up to date in line with any regulatory developments.
  • We will provide you with the necessary facilities to ensure that you maintain the necessary level of continued professional development and competency (CPD) as required by the FCA.
  • You will receive 24/7 access to our online Portal and Shared drive, subscriptions to leading Protection and Mortgage product sourcing software and Client Verification and Sanctions systems to enable you to screen and identify clients.
  • You will receive all the support you will need to advise on and arrange mortgage, protection and general insurance products and services to individual and corporate clients alike.
  • As a member of the Richdale Network, you will have access to a wide range of Richdale approved lenders, protection and general insurance providers from across the whole of market, including many niche lenders and insurers. This will help ensure that you can cater all of your clients’ needs.
  • You will have a dedicated Account Manager and Compliance Officer who will provide the required training and guidance throughout starting with the initial training and then ongoing monitoring.
  • You will receive ongoing administrative, compliance and procedural support and regular reviews, to help you stay on track and to progress to the next level.
  • You will receive full accounts support to make sure any commissions and procuration fees are received, and that you are paid promptly (we pay within 48 hrs), with regular statements provided.
  • You will receive a competitive benefits package with defined, progressive performance levels rewarding advisors according to the standard of their compliance, procedural and business.
  • This could also be the perfect stepping stone in your financial services career to becoming Directly Authorised (DA) whilst continuing to benefit from our ongoing compliance services as a DA client.

For a free, impartial, no-obligation consultation on your compliance requirements, get in touch with us today. Our team are always delighted to help financial service providers get compliant with the FCA to continue operating successfully.

Get in touch for a no-obligation consultation

Our team are delighted to offer an impartial consultation on your compliance requirements, with no obligation to sign up to any of our services.

Request a consultation

Directly Authorised Firms

For those firms looking to become Directly Authorised with the FCA, including appointed representatives ready to make the transition, our team can work with you to prepare your business. We will guide you throughout the entire process to help you obtain successful authorisation, and ongoing Compliance support and guidance as a Directly Authorised Firm in your own right.

Our Directly Authorised Proposition:

  • We will handle every aspect of your application for direct authorisation, which will begin with an in-depth preliminary consultation to obtain an understanding of your commercial and regulatory objectives to liaising with the FCA on your behalf throughout the authorisation process;
  • We will provide guidance on a proposed structure and the necessary permissions required for your firm to provide the necessary products or services. We will also provide guidance also on the approval process of key persons in line with the Senior Managers & Certification Regime (SMCR), which is due to be implemented for solo-FCA regulated firms in December 2019.
  • For those already registered with the FCA – We will ensure that you have the correct permissions to provide the products or services you offer. Should you lack a permission or have irrelevant permissions, we will notify the FCA accordingly by way of a Variation of Permission.
  • We will ensure that the data the FCA hold in relation to your firm is accurate and up-to-date. In the event of the FCA holding inaccurate or incomplete data we will inform the FCA on your behalf. (Standing data check.)
  • We will provide guidance and support to ensure that your firm is Data Protection compliant, especially under the new Data Protection Act and General Data Protection Regulations (GDPR). This is a very wide ranging service which includes providing renewal reminders as and when appropriate, providing the necessary declarations, procedures, notices, contract clauses, impact assessment, risk analysis, disaster recovery plan, GDPR training and implementation.
  • We will ensure that you set up the necessary insurance coverage in line with your statutory and regulatory requirements and ensure that this is renewed when necessary.
  • We help fast growing firms with the structure and maintenance of their contractual obligations to their employees in line with FCA expectations.
  • We will provide you with all the necessary documentation, including a bespoke Compliance Business Plan Training & Development Plan and Disaster Recovery Plan together with all the necessary policies and procedures.
  • We will create a Compliance Monitoring Plan which will cover all the key necessary aspects of your compliance operations as expected by the FCA. This will form the basis on the ongoing compliance of the firm.
  • We will conduct file checks and regular compliance reviews. You can choose from monthly, quarterly, annual and ad-hoc reviews of your company’s documentation to keep everything up to date with the FCA.
  • As part of our compliance support services you will also benefit from ongoing support that you are bound to need from time including, but not limited to: Change in Control, Variation of Permissions; Credit Referencing, Approved Persons (to be replaced by the SMCR in December 2019); FCA Visits; Financial Promotions; Provider Visits; Risk Management; TCF Issues, Complaints Handling and Website reviews.

For a free, impartial, no-obligation consultation on your compliance requirements, get in touch with us today. Our team are always delighted to help financial service providers get compliant with the FCA to continue operating successfully.

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