From £80 per file

File Checking

File checking not only establishes suitability of advice but also provides a very good insight into the level of compliance within the firm. Some of the key benefits in having us carry out file checking for you include:

    • We offer the most comprehensive file checking on the market. We don't believe in half measures, and unlike some providers we don't just do an overview check. We see no benefit in offering a cheap quick file check as this often means errors are missed and you get little value from them. So we undertake an in-depth analysis of the file, nothing is missed.
    • All paperwork is checked not only for the file compliance but also to establish if documents have been updated to current regulatory rules. If this hasn't been done it often highlights other potential areas of non-compliance in the business.
    • Files are only checked by experienced consultants with a minimum 14 years checking experience, consultants that are fully qualified and understand the sales process as well as the regulatory requirements.
    • Flexibility in grading, we grade files to help with competency assessment but can accommodate any existing grading system you have been using.
    • Our file checks meet the high expectations of the FCA as we have previously been instructed by the FCA to undertake file checking on their behalf.
    • We can improve on your sales process and documentation. If we identify shortfalls we will suggest changes or offer alternative templates which would improve overall file compliance and ensure the same errors on files don't reoccur.
    • All file checks come with a full written report of any identified shortfalls any remedial action required, suggested changes to improve future compliance and grading.

      •  

 

Do I need to have my files checked?

Yes, file checking is a requirement by the FCA to establish compliance, advice suitability and forms part of an adviser's competency assessment. For a non-competent adviser (non CAS status) 100% file checking should be carried out. Once competent this can be reduced, but you should ideally be having a minimum of 10% file checks. File checking can be very time consuming and for a small outlay you can ensure your firms compliance is in-line with FCA expectations and be less likely to be at risk of non-compliance and potential complaints.

We can include file checks at any frequency within a regular support option or alternatively can provide these on a one off basis.

We provide full file checking as well as pre-application file checking for non-competent advisers. 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 location and needs collect files and return them or files can be securely posted, we would then either securely shred them or return them if originals have been sent. We take data protection very seriously and hold a data protection licence Z1399726.

 

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

 

Sitemap

H3 Consultancy Ltd ©