Client File Reviews

Some firms do not have any process to review their advice or client transactions. Many firms tend to leave this job as long as possible as it is not one of the most enjoyable and is one of the more time consuming tasks to complete. However, it is also one of the key areas of the Key Performance Indicators and can provide some of the most valuable information on a registered individual.

We are able to do this task for you by completing all of the necessary file reviews for your firm, providing the management with all of the information needed to complete both the KPI's and any one to one feedback.

We can provide a choice of review formats:

Check of single transaction through a Suitability Report review at £40 each:

Remote assessment of Know Your Client Fact Find, research, illustration and Suitability report; the aim is to assess the suitability of the advice, based on the Know Your Client information obtained.

Check of single transaction through a Full Client File Review at £80 each:

In situ assessment where the file is checked to ensure the advice provided is within the firm’s ‘Scope of Permissions’, to ensure that the advice process has been correctly followed and the file is correctly documented; the aim being that in the event of regulatory scrutiny, or of a complaint received, you are in the best possible position.

Depending on the service required, either we can complete the reviews remotely or in the firm’s office which will be followed up with written feedback.

Apart from providing firm’s with management information on how well clients are being advised and the process recorded, it also demonstrates that the firm is taking their management responsibilities seriously by obtaining feedback on their procedures from a third party specialist.

Please contact us for further information.