Compliance in the UK financial services industry has evolved over decades in response to economic crises, financial scandals, and consumer protection concerns. The framework we see today, regulated by the Financial Conduct Authority (FCA), has its roots in the early 20th century, shaped by key legislative milestones and regulatory changes.
For many financial advisers, compliance can feel like a barrier to growth, a constant challenge that adds complexity to daily operations. Larger firms often impose rigid processes that make it difficult to work efficiently, while smaller firms may lack the support and structure needed to keep up with regulatory demands.
At Truly Independent, we take a different approach. We believe compliance should work alongside advisers, ensuring they meet regulatory requirements without unnecessary complexity. Our compliance team is approachable, personable, and works with advisers rather than against them. We prioritise good communication and strong personal relationships, ensuring that advisers receive the guidance they need without feeling burdened by excessive red tape.
Our compliance structure is designed to be supportive, not restrictive. We provide a framework that upholds high regulatory standards while allowing advisers the autonomy to manage their business effectively within those guidelines. This means:
- Straightforward compliance support – Our team provides clear and practical guidance, ensuring advisers always know what’s expected.
- Efficient processes – We help advisers navigate compliance efficiently, reducing unnecessary administrative burdens.
- A focus on good client outcomes – Compliance isn’t just about ticking boxes; it’s about ensuring clients receive fair, transparent, and high-quality advice.
- Expert support when you need it – Our experienced compliance team is always just a phone call away, offering assistance whenever advisers need guidance.
What Sets Our Compliance Team Apart?
At Truly Independent, we go beyond the standard compliance framework to ensure our advisers feel supported and empowered. Every member of the team is at least Level 4 qualified, meaning they are as knowledgeable as the advisers they support.
We offer ongoing training and development, including the “What a Good File Looks Like” training webinar for new advisers, helping them understand best practices from the outset. We also provide regular team calls and a monthly compliance bulletin email to keep advisers informed of important regulatory updates and best practices.
In the past year, we have made significant improvements to our compliance processes, including reducing pre-approval turnaround times by 40%, and we continue to refine and enhance our efficiency. Unlike firms that impose overly strict measures for the sake of it, we take a proportionate approach, working closely with advisers to improve processes rather than hinder their success.
On top of this, we actively encourage and reward advisers for maintaining high compliance standards. Advisers who meet the firm’s Client Support Agreement (CSA) standards can earn an additional 5% bonus on recurring income. This incentive not only ensures compliance remains a priority but also helps advisers maximise their earnings while delivering excellent client service.
By choosing Truly Independent, advisers gain the confidence to operate within FCA regulations without feeling restricted. Our compliance team is here to help—not to hinder—so advisers can focus on what they do best: building strong client relationships and growing a successful business.
Book a Discovery Session – Then Pick Your Payment Rate
Thinking about making a move but want to learn more first? Book a Discovery Session with us. This is a no-obligation conversation where we discuss your business, your goals, and how Truly Independent can help you achieve them.
There has never been a better time to join Truly Independent. We recently introduced Pick Your Rate, allowing new joiners to select a payment rate between 70% and 90% in their first year. Use our payment rate calculator to discover a rate that suits you.
