SimplyBiz has launched a scheme to help heads of advice firms meet the regulatory requirements around competence and training of their advisers.
The scheme will see SimplyBiz, who launched 'Protection Week' for advisers last June, design a training and monitoring programme around the operations of the individual firm.
The bespoke plans will look at file reviews, skills observations, knowledge assessments, a continuing professional development (CPD) review, training needs analysis, key performance indicator collation, development plans and annual credit checks.
Paul Wilby, head of compliance field services at Simplybiz said the service will help advisers fulfill the regulator's requirements that firms must assess the competence of their advisers and provide ongoing 'appropriate training'.
"The FCA's T&C regime states that the head of a firm needs to 'assess the competence of each of your advisers on an ongoing basis, to ensure appropriate training is provided, and to keep records of anything that relates to the firm complying with T&C," he said.
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