From £80 per file

File checking provides a very good insight into the level of compliance within a firm. The FCA expect you to be able to demonstrate risk based file checks are carried out. File checking can be very time consuming and this time is better spent increasing sales and earning income. If you have trainee staff then all the business written by them should be checked for compliance, and we would normally recommend around 10-20% of a competent advisers files are checked. As a sole trader its important to have someone else review the files for compliance and if not an external compliance provider another broker.

File checks can be incorporated within any service plan to give complete support or taken on an ad-hoc basis. We can also carry out a limited number of file checks during a visit. Most file checking is however carried out remotely, either files emailed over, shared via cloud storage or access to software. You may have additional staff or trainee staff and are unable to monitor sufficient files by yourself, or would like the reassurance that the in-house checks being done are picking up on everything. Or you may be a sole trader with no independent way of checking the files.

We provide a comprehensive file checking service; all file checks carried out are provided with a written report of any errors found together with recommended action required. Unlike some providers we don't just check the fact find sourcing and suitability letter, we carry out a full check of all the paperwork in the file, we do not outsource file checking to administrators, all files are checked by our experienced consultants with who have been checking files for over ten years Following the file checks we may recommend some changes to prevent the errors occurring in the future such as changes to documentation or sales process. We can also grade the files using our standard grading or any grading system you may already use to help seamlessly fit into any process you're already following. We have been asked to undertake file checks on behalf of the FCA when a firm is being investigated, so we know our in-depth checks are to the standard the FCA expect

Files can be checked in various ways, either in-house or remote checks. Remote file checking is more cost effective and if they cannot be sent electronically, we can depending on locationand needs collect files and return them or files can be securely posted, we would then either shred them or return them if originals have been sent. We take data protection very seriously and hold a relevant data protection licence.

 

Please contact us for a no obligation quotation and more information.

 

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