Leading compliance support provider Verve and insurance specialist BareRock are collaborating to support financial advice firms. The initiative kicks off with a series of three educational webinars exploring how compliance and Professional Indemnity Insurance (PII) can better serve financial advice firms.

The first free CPD-accredited session, 'Compliance and PII: A Force for Good in Finance', takes place on Tuesday 28th January 2025, from 11:00AM to 12:00PM, marking the start of this event series designed to help advice firms optimise their approach to compliance and insurance.

Cathi Harrison, CEO of Verve, commented: “In our early discussions with BareRock last year, we realised we share a common mission: helping advice firms operate both profitably and compliantly while reducing their costs. By teaming up, we can turn this vision into reality. 

“At Verve, we now have more firms using our compliance services than any of our other offerings, and we have amazing insight on how to run those businesses efficiently. Combining that with BareRock's experience in insurance and innovative approach towards lowering premiums as business risk reduces means we are able to take a negative concept and make it a positive experience instead.” 

Jonathan Newell, Founder & CEO of BareRock, explained: “We understand that many firms have seen compliance and PII purely as costly obligations rather than valuable business tools. It's time we changed the narrative. Through our BareRock Club membership tiers, we're recognising and rewarding firms who demonstrate excellence in compliance and risk management with premium discounts of up to 20%. We believe 2025 marks a new dawn of positive compliance and insurance working in harmony together - one where these requirements actively support your firm's growth rather than hinder it.”

Both companies have built their offerings on proprietary technology platforms that help firms identify and solve compliance and risk gaps in their businesses.These solutions align with FCA expectations around Consumer Duty and good customer outcomes, providing data-driven insights for a data-driven regulator.This evidence-based approach not only strengthens firms' regulatory frameworks but can also unlock more favourable insurance terms through demonstrated risk management.

Harrison added: “It's akin to the Vitality model; we know we do exercise to ultimately improve our health but if a benefit of that is lower life insurance premiums, then great. Working together with BareRock we can bring that philosophy to finance, helping firms improve their compliance health for the good of their business with the potential for financial savings as the cherry on top!”

Financial advice professionals can register for the first webinar in the series, taking place on 28th January here.

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