Tavistock Financial offers Network services to a broad cross section of advisers.

We give you a licence to trade, deal with the FCA on your behalf and monitor your business to ensure your ongoing compliance.

The following services are ALL included in your membership fees:

File checks

Our standard monitoring programme checks files on a ratio between one in four to one in sixteen cases. Our file checkers select a cross section of the business you write in terms of different types, different products and different levels of risk. Feedback is provided to help provide evidence for Treating Customers Fairly and to support adviser´s Continuous Professional Development along with maintaining a consistently high level of advice. We also employ an increased level of checking on high risk business such as pension cases. This involves checking 100% of all cases relating to pension transfers and switching.

Compliance visits

Your allocated Quality Assurance Manager will visit you a minimum of once a year to provide on-site support to your business. We aim to go though a range of compliance areas including Treating Customers Fairly to help run your firm compliantly. They will provide you with a compliance report following the visit which will also include helpful suggestions.

Training and development

Our Training and Competency team organise regular seminars, workshops and events across the country. We recognise the importance of Continuous Professional Development for all IFAs and provide each Network member with a CPD register.

We also support members with an innovative learning system, the Tavistock Financial Exam. This is a facility whereby you can access the level 4 learning material, which will be updated regularly for your benefit. You will be able to read the material and then confirm your knowledge by way of short multiple-choice tests, helping you to fulfil your requirement for structured CPD.

PI insurance

We have FCA compliant cover which will cover you as a member of our Network. We have a risk based approach where you will be asked to pay for the FCA Compliant excess (£5,000) on any upheld claim. Following an upheld complaint, an individual adviser’s excess will be increased to £10,000. If after three years, there have been no further upheld complaints, the excess will be returned back to £5,000.

Complaints management

As your network we will review, investigate and resolve any complaints received on your behalf. We will also liaise with the FOS if necessary.

Technical support

In addition to the Quality Assurance Managers supporting our Network members, we have a technical team based at our head office to answer and deal with any compliance issues you may have.

This includes technical issues on:

  • Mortgages
  • Equity Release
  • Pensions
  • IHT
  • Investments
  • Fund Management
  • Long Term Care

The technical team can give you assistance on writing suitability reports including more specialist areas such as Occupational Pension Transfers, Pension Draw down, Equity Release and Long Term Care. For further assistance, members can also access our document library which has a range of compliance materials that can assist you.

Technical documents and reports

Members of Tavistock Financial can access our FREE document library on Phossil which has a range of compliance materials designed to assist you. These documents are regularly updated to ensure you are running your business compliantly.

Phossil – Management information

We have developed our own compliance management system Phossil to manage your information. It is a web based system that you can access 24 hours a day, 7 days a week.

This provides some of the evidence you and the Network require to demonstrate the collection of Management Information. It includes a number of useful functions to help you manage your business including:

  • Turnover – Register your commission and/or adviser remuneration
  • New Business – Pipeline manage the business you have written
  • Key performance indicators – Monitor your performance against our standards

The system enables us to adopt a risk based approach to your supervision, targeting the areas where we can give you the support you need.

Fortnightly updates

We provide our Network members with fortnightly publications. Our Tavistock Financial Updates cover a variety of necessary topics, including; recent regulatory news, compliance requirements, and reminders of forthcoming events. These communications also count towards your CPD record.

Promotions sign offs

Our internal compliance team are able to check and sign off all your marketing collateral, including newsletters, local advertising, websites, and stationery.