Starting your own business is an absolute rollercoaster at the best of times; when you add in the regulatory overlay of starting a financial advice business, it can take on a whole new level of intensity! However, after a number of years of consolidation, there is a definite trend towards those 'breakaway' advisers, who want to take back control and ownership of their firm and clients, and for that, we are here to help.
At Verve, we support individuals and firms with their application to the Financial Conduct Authority to become directly authorised (DA), and we're contacted almost daily with questions from individuals who are considering making the leap into the world of direct authorisation to help them establish the pros and cons.
This guide looks to explain some of the considerations that should be on your radar before embarking on the directly authorised journey, and using our experience of assisting these applications to help you decide if DA is for you.
After choosing a career in financial services straight out of university, Maddie's experience as a compliance manager helps her empathise with adviser firms and their current frustrations. With years of experience and a fresh outlook on the industry, Maddie can help firms understand the regulators current focuses and ensuring it's embedded effortlessly within their processes and culture.
Having been an adviser, training and competence manager, and CF10/CF11 in the industry for many years, Christian is very well placed to understand what makes firms tick, what many are trying to achieve and how to assist them in getting there. He provides firm with pragmatic, no-nonsense support, helping them understand what their goals are and creating a path to help them to achieve them.
Looking for some support with your own business? We have a number of free incubator programmes you can access.
If you're not yet sure between DA and AR, you can join our Choose Incubator, to help you make the right choice!
If you're waiting on FCA authorisation, or recently approved, our Build Incubator will guide you through the next steps.
And if you're looking to scale your new business, then our Growth programme will give you the insights you need
PDD, CIP, PROD & CRP; it's an acronym jungle, and one that can be hard to navigate, to research and clearly document. Let us take the projects off your hands to build a robust, clear, compliant proposition for your business.
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If you're thinking of getting started with your own business, we're here to help. From creation of your business plan, through to the FCA application and providing support for questions, we have got your back.
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Need help with a business change? Or introducing a new tech stack? Or articulating your growth plans and direction of travel? Our consultants can help, bringing real world experience to help your practically tackle your business challenges.
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