Bankhall launches new entry level “Foundation” proposition for advisers
→ Support services specialist Bankhall has launched a new “Foundation” entry level package to enhance its proposition, aimed at adviser firms looking to have the regulatory, research and business development support of a quality provider at low cost.
Bankhall is one of the UK's largest providers of support services to directly regulated firms and has been reviewing and refining its services over the past year to deliver a new simplified proposition. Part of this is “Foundation”, an entry level package available exclusively online. This enables firms to have the basic level of support from Bankhall, but with the ability to add on additional services.
The new competitively priced Foundation package will be attractive to adviser firms looking to secure their business models in the run up towards RDR. Bankhall is also able to provide the depth and experience of their regulatory, technical and research departments to deal with the full spectrum of a firm's advice needs.
In total, directly authorised firms will have six Bankhall packages to choose from. At the core of each package is Bankhall's expert regulatory compliance, with access to additional services such as compliance healthchecks, TCF reviews, file checks, audits and themed reviews – along with product and investment fund research.
Added to this is a wide range of support with learning and development, business transition, technology and marketing, mortgages, investments and protection, along with referral services.
Nick Kelly, Managing Director, Distribution at Sesame Bankhall Group, says:
As we move into the new RDR world one thing is clear: there will be no let up in the regulator's intensive supervisory approach. It is impractical for busy advisers to keep tabs on everything the regulator is doing. Bankhall employs a large team of highly qualified experts, which gives us a real insight into the changes taking place.
We have now refined our proposition to enable more directly regulated firms to benefit from the compliance support and wide range of valuable services Bankhall can provide. Bankhall can alleviate the pressure by helping firms to understand emerging risks and how to manage them confidently, whilst also providing a range of additional services that can help boost revenue.
Mike Wilson, Joint Managing Director at Chartered IFA firm Francis Clark Financial Planning, who is also the largest firm of independent accountants in the South West of England, comments:
The regulatory and economic challenges for IFA firms in today's tough market are well documented. Bankhall's team of compliance experts have proved to be very valuable in ensuring that we are continually meeting our regulatory obligations and moving in the right direction. We have also worked closely with Bankhall to review our training and competence processes and undertake thorough due diligence on new firms, which is helping our business to evolve and grow ahead of the RDR. Along with regulatory oversight, Bankhall has also helped us commercially through their wide range of practical services. Their valuable support has made a real difference to the smooth running of our business.
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