The Clock is ticking...

Financial Advisory

Charlie Martin

Financial adviserFinancial AdvisoryFinancial servicesSenior managers regimeWinning Advisers

Are you ready for the Senior Managers Regime?

Headlines:

  • Regime already been implemented at banks and building societies but now advisory firms need to comply

Key Issues and Challenges:

  • Key for every IFA firm to have a clear plan to deal with this. It's important that there are a clear set of responsibilities for this within the business and crucially for those holding regulatory responsibilities
  • Clear set of questions firms should be asking such as 'do you have the right people in the right roles' and 'is the T&C scheme fit for purpose' as well as 'do your tier 1 staff know conduct rules and know the integrity of working in the client's interest'?
  • Document roles and responsibilities

Conclusion and Solutions:

  • The importance of training and culture that firms need to operate in has been highlighted
  • If employees are to hold more responsibility and accountability, then there is higher salary expectancy which is generally accepted and seen as manageable

Experts:
Tony Bray, threesixty ServicesBarry Martin, threesixty Services

Facilitator: 
Rod Byrsyon, Capgemini InventRoderic Rennison, Rennison Consulting


Top