Services for Professionals, Trustees and Deputies
When Trustees or Professional Deputies instruct financial experts such as financial planners they are under a duty of care to their clients to ensure that the expert has sufficient knowledge and experience to provide advice in that particular area.
Those with compliance oversight within professional firms will need to ensure that they comply with the principles laid down by their own regulator. We are happy to assist with ‘one off’ issues or on going support, in relation to the following areas:
- Trustee Investment Services
- Trustees Responsibility to Review Investments
- Investment Responsibility for Professional Deputies
- Expert Witness Services
Acting in the best interests of clients applies to all client relationships and when firms appoint external experts, a significant amount of due diligence will need to be completed to evidence that the expert does indeed have the credentials to assist the specific client.
How professional Trustees and Deputies judge and evidence this in the financial advice arena is key to ensuring all of the responsibilities and reporting duties are covered and professional risk reduced.
Financial planners have started to specialise in specific areas which follows how other professions have traditionally worked. Those advisors who have Chartered Certified status offer comfort around qualifications although further due diligence on their specialisms is required before appointing them.
The Chartered Insurance Institute offer a Corporate title to those businesses that comply with the higher level ethics and processes laid down by the Institute. This offers Trustees and Deputies a secondary check, as those businesses with Chartered status have had their people, process and ethics externally tested.
Working with Chartered or Certified individuals in a Corporate Chartered firm provides credibility for those firms appointing experts which will reduce the professional risk.
Our first meeting with you is always undertaken at the cost of our firm. This initial meeting allows us to discuss your objectives and reasons for seeking advice, and to assess the level of service required.
We will always obtain your agreement regarding our fees before undertaking any work on your behalf. This will include confirmation of the scope of work to be carried out, the amount of the fee, how it is structured (for example as a fixed fee, an hourly rate or percentage of premiums/amount invested) and how it is to be paid (e.g. invoice or deducted from your fund or investment).
Call us today to discuss your business requirements on 0845 828 1000 or email one of the M&H Financial Planning team.