Five key questions to ask when changing your advice model

Our regulatory specialists have noted a surge in investment advisory firms transforming their service portfolios.

These changes promise cost savings and superior service quality for clients but may impact business models. 

Our latest article examines this topic, presenting five pivotal questions that every investment advisory firm should consider. We address essential preparatory measures crucial for maintaining compliance, with a focus on governance, systems, and controls.

Fair value assessments and adherence to product governance for the insurance sector 

The regulator has become increasingly concerned about the lack of cohesive criteria used in fair value assessments and the inconsistent adherence to product governance within the insurance sector.

This growing concern highlights the urgent need for firms to re-evaluate their current practices and align them with regulatory expectations to avoid potential pitfalls.

 Our latest comprehensive insight delves deep into the critical risks that firms must be vigilant about. Plus, we provide compelling reasons why taking proactive measures now can safeguard your business future. 

Insurers urged to demonstrate fair value and good customer outcomes

The FCA is urging insurers to elevate their game and prove that they are providing genuine value and positive outcomes for their customers. This directive is not merely a suggestion; it's a pivotal benchmark that will define the future landscape of the insurance sector.

At TCC, our compliance specialists have already noted the profound impact of the recent FCA review on the product governance of insurance offerings. The results underscore the immediate necessity for insurers to reconsider and enhance strategies not only to meet but to surpass regulatory standards.

TCC in the news...

How advice firms should navigate the AI journey

Artificial Intelligence is making waves in financial services, promising to revolutionise efficiency and sparking lively debates about its future impact. Yet, many businesses are still grappling with understanding the specific types of AI available and whether they align with their needs.

In a compelling feature for Money Marketing, TCC and Recordsure CEO Joe Norburn explores the vital differences between generative and predictive AI, emphasising why predictive AI emerges as the most reliable option for accurate data analysis and strategic decision-making.

Partner spotlight...

How financial advisers can embrace the evolving landscape

Joanne Smith, the founder of TCC and Recordsure, recently participated in an expert panel at the AIFA24 conference.

In the event’s stimulating discussion, she highlighted how the surge of generative AI tools is transforming the financial advice sector, offering firms an array of innovative solutions. Joanne underscored the critical need for meticulous evaluation of these technologies to achieve both successful and compliant results.