Investments

Being able to demonstrate robust, repeatable, and reliable processes is more important than ever now that the FCA requires you to carry out PROD reviews. It’s as vital as being able to show your business is consistently providing good outcomes for clients and treating them fairly at all times.

Adopting a centralised retirement proposition (CRP), a centralised investment proposition (CIP) and a centralised advice framework (CAF) could be key to achieving this.

Read on to discover five ways these centralised systems could provide greater protection against complaints and potentially boost business.

Ensures your business can stand up to scrutiny

Centralised systems allow you to demonstrate to the FCA that you and your company has a robust, reliable, and repeatable process. This could be critical in meeting PROD guidelines and COBS 9.3.3, which requires you to consider all relevant client information before making a recommendation.

A CAF ensures your business meets the 11 FCA core business principles and, in particular, makes sure that you put “customers’ interests” first.

Ensures your recommendations are always appropriate

The FCA knows that clients’ situations differ, and so will check to ensure they have not been “shoehorned” into the same solution – especially where retirement is concerned.

Having centralised systems, such as a CRP, means you can demonstrate

that you’ve collected all the relevant hard and soft facts, recorded them, and considered the client’s individual situation.

With a CIP, any investment or product you recommend will be from a centralised selection that has been assessed and found to be suitable for your clients. This is more likely to result in a good outcome for the client, reducing the chances of complaints or an FCA investigation.

Reduces risk for the business

A centralised and consistent advice framework, such as a CIP, helps eliminate the chance of errors and omissions. This dramatically reduces the risk of a recommendation turning out to be wrong, or not be in the client’s best interests.

As such, complaints against you and your business are far less likely. Furthermore, it will mean happier clients, which could mean referrals and future new business.

Improves business efficiency

Each of the centralised systems require you to gather all the information needed by your paraplanners, allowing them to produce a clear and compliant suitability letter more quickly. This is because they will not need to chase you for missing information or clarification on key points.

Because a CIP removes the need to undertake investment and platform research for every case, your business will be more efficient, providing quicker outcomes for your clients. This could mean you can arrange that all-important presentation meeting sooner.

Allows you to spend more time with clients

This dovetails into the above point of having a more efficient business, which allows you to concentrate on delivering what clients really want: good financial planning and a first-class service.

This is likely to result in happier clients who then provide referrals, allowing you to build your business while reducing the potential of complaints.

Get in touch

We have been helping businesses develop and integrate centralised systems for many years, and have tested many for robustness, reliability, and repetition. If you would like to learn more about how we can offer support in establishing centralised systems please visit our website or contact us. You can get in touch online or by calling 01472 728 030.

Great to see Prospect Place 1 & 2 completed at Battersea Power Station, proud to work with VolkerLaser on both buildings #frankgehry VolkerLaser Battersea Power Station

Great to have been working on another fantastic project with VolkerLaser. Can’t wait to see Battersea Roof Gardens completed later this year #fosterandpartners #batterseapowerstation #mixedusedevelopment

Alison Quinn, Director of Bluesky Architects was a finalist in this year’s Women in Construction and Engineering (WICE) Awards in the Best Woman Architect category and is a lifelong champion and advocate for women in the industry.

Alison said: “To be recognised for the impact I am making as an Architect and as a leader makes me proud. I am not afraid of change. Leading the diversification of Bluesky’s sector experience over the last five years has paid off. Bluesky is now the go-to design practice for clients who want a commercial view of design solutions without compromising the quality or the client service that my team and I provide.

Congratulations to all who were nominated and the winners of these important awards which celebrates the impact women are having across our industry.”

#WomenInConstruction #WomenInEngineering #WICE #WICEAwards

We are delighted to announce that Little Hulton Health Centre won Healthcare Project of the Year at the Partnerships Awards. We are very proud to have been part of the team in delivering this new health care centre for the local community.

#healthcare #partnershipsawards #architecturedesign #partnerships #awards

Interested? Then please send your CV and a sample of your portfolio across to careers@blueskyarchitects.co.uk by Monday 20th June 2022.

We’re counting down the days to the postponed Partnerships Awards that are taking place this Thursday 19th May. We can’t wait to see whether Little Hulton Health Centre will be awarded Healthcare Project of the Year – fingers crossed!

Delighted to be Architects for this shortlisted project.

#PartnershipsAwards2022 #awards2022 #finalists #architecture

It was great to see the progress being made on site yesterday for the new NWAS Blackpool Ambulance Hub. We are excited to be working closely again with Galliford Try by providing full Architectural Design Services.

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