Adviser Charging is now part of day-to-day life for Planners, and with it have come complications, confusion, and extra administrative work.
In an attempt to simplify adviser charging from the consumer’s perspective, the FCA has introduced a host of new distinctions, definitions, and reporting requirements. Where previously you offered Whole of Market advice, now you are “Independent”; where once you received commission, now your client can elect to pay you fees directly from a product.
As a Planner, it can be hard to keep up with industry developments, and to keep on top of the figures you need to submit to the FCA. Here at Prestwood®, we’ve been working closely with our users and their networks in order to negotiate the complex web of requirements.
We recognise that advisers want to spend their time seeing clients, and earning money, not completing regulatory returns. Our research and development team fostered new strategic relationships, which are helping us both to understand the new RMAR requirements, and to incorporate them into Prestwood® in a way that is simple, transparent, and straightforward.
We are committed to continuing to develop alongside changing reporting requirements, and are working to introduce one-click reporting for various parts of GABRIEL, as well as PII renewals, and other regulatory returns.
Our expert support team are well versed in the use of our GABRIEL reporting tools, and are ready to answer your questions. So whether you just want to know what a platform service provider is, or you need to produce your Adviser Charging return for the FCA, we are always happy to help.
